Zombie James
Banned
http://money.cnn.com/2015/05/06/investing/keurig-green-mountain-earnings-stock-fall/index.html
No shit, dumbass. The obvious solution will be to get this garbage out of their machines ASAP and fire whoever came up with this idiotic idea, but I wonder if the damage to the brand has been done.
Sales of Keurig brewing machines and accessories tumbled 23% in the first quarter compared to the prior year.
The company had a lot of excuses, but the basic problem is there are too many Keurig machines in stores and people aren't buying them, especially the newest Keurig 2.0 model.
"We do have some headwinds," said Chief Financial Officer Fran Rathke on a call with analysts.
Investors are fleeing the stock. Keurig (GMCR) dropped 10% Thursday when the market opened for trading. Shares are now down more than 25% this year.
It's a big change for the company which had been one of the hottest stocks in 2013 and 2014 and does over $1 billion in sales.
CEO Brian Kelley says he's listening to consumers and is ready to make changes. The biggest frustration for customers is that the 2.0 model only brews Keurig branded coffee cups.
"Quite honestly, we were wrong. We underestimated the passion the consumer had for this," Kelley told analysts on a call Wednesday evening.
No shit, dumbass. The obvious solution will be to get this garbage out of their machines ASAP and fire whoever came up with this idiotic idea, but I wonder if the damage to the brand has been done.