The Pro's Closet cuts staff 15%
10-18-22, 09:58 AM
#26
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This reminds me of a Simpson's episode about the internet boom/bust of the late 90s. Bart gets a job with an internet startup creating content, getting paid in stock options. Of course is all comes crashing down, and the repo men are there repossessing things like the Foosball table, and one of them says, "Yeah, the bursting of the internet bubble has brought a boom to the Repo business. A boom which will never end!"
The last 2 1/2 years, there have been a million opinions published on What Happens After COVID, looking at all aspects of society, but nobody really knows what the new normal will be.
The last 2 1/2 years, there have been a million opinions published on What Happens After COVID, looking at all aspects of society, but nobody really knows what the new normal will be.
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10-18-22, 10:05 AM
#27
Firm but gentle
You aren't using "hindsight" correctly.
The layoffs are a current event. No one is looking back at them.
The issue is understanding what the layoffs (as a current event) means.
Everybody knows that there was a COVID-related bike boom. So, with that as a cause, it wouldn't be surprising if there were increased hires.
To make any sense of the layoffs, the pre-COVID and COVID-era employee count should also be reported.
It's silly to report the layoffs as an "unusual" event and, effectively, ignore the whole COVID thing.
The article obliquely mentions a COVID run up.
So, TDC expected the COVID-related boon to continue. It didn't.
It doesn't take a genius to expect that the boon wouldn't continue. That expectation isn't "hindsight".
The layoffs are not surprising.
The layoffs are a current event. No one is looking back at them.
The issue is understanding what the layoffs (as a current event) means.
Everybody knows that there was a COVID-related bike boom. So, with that as a cause, it wouldn't be surprising if there were increased hires.
To make any sense of the layoffs, the pre-COVID and COVID-era employee count should also be reported.
It's silly to report the layoffs as an "unusual" event and, effectively, ignore the whole COVID thing.
The article obliquely mentions a COVID run up.
So, TDC expected the COVID-related boon to continue. It didn't.
It doesn't take a genius to expect that the boon wouldn't continue. That expectation isn't "hindsight".
The layoffs are not surprising.
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10-18-22, 10:06 AM
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Casually speaking, though, mstateglfr is correct: it doesn't matter whether the economy is returning to "normal" (whatever that means) levels of activity or subnormal levels of activity.
No one was wondering what "contraction" meant.
Last edited by njkayaker; 10-18-22 at 10:12 AM.
10-18-22, 10:12 AM
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10-18-22, 10:14 AM
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You're the one who used the term incorrectly in post #6 (see below), by suggesting a distinction between "contraction" and "return to normal levels," which prompted your debate with mstateglfr . I understand that you weren't wondering what contraction meant, but I thought you might like to learn the correct usage.
10-18-22, 10:15 AM
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If I remove my shoes to walk along a dirty street and I step on a rusty nail, I can be in pain in the moment and yet hindsight can apply because the event being discussed took place.
This back and forth is silly though. It started because you seem to think the main focus should be if layoffs will leave the company with the same workforce as pre-covid or a smaller workforce.
10-18-22, 10:22 AM
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Not that I'm going to spend 4 grand on an ebike, but that seems like a pretty high end item to be offering buy one get one free, which is a model I more expect out of Payless shoes or groceries.
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10-18-22, 10:24 AM
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You're the one who used the term incorrectly in post #6 (see below), by suggesting a distinction between "contraction" and "return to normal levels," which prompted your debate with mstateglfr . I understand that you weren't wondering what contraction meant, but I thought you might like to learn the correct usage.
10-18-22, 10:27 AM
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The layoffs were announced. After that announcement, any analysis that takes place is backwards looking and therefore hindsight can apply.
If I remove my shoes to walk along a dirty street and I step on a rusty nail, I can be in pain in the moment and yet hindsight can apply because the event being discussed took place.
If I remove my shoes to walk along a dirty street and I step on a rusty nail, I can be in pain in the moment and yet hindsight can apply because the event being discussed took place.
This is an important part of the story. It seems that they might have ended-up with a larger workforce.
10-18-22, 10:32 AM
#35
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10-18-22, 10:40 AM
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10-18-22, 10:51 AM
#37
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Hmmmm. I'm not sure why it matters whether TPC goes back to the same staffing levels as 2019, because the current layoffs reflect a softening of the used bike market, which may reflect a softening of the market as a whole, which is entirely expected given the softening of the trainer market. Where it will end up is anyone's guess, but probably not where it was in 2020 and 2021.
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10-18-22, 10:51 AM
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It's like riding a bicycle
It's like riding a bicycle
10-18-22, 10:54 AM
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...still scratching my head, trying to figure out why you need two. Do you ride one while the other recharges ? Do you wait a couple of months, and sell the second one back to the Pro's Closet, thus recouping a portion of your original investment ? Is one of them for my imaginary friend ?
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10-18-22, 11:04 AM
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...still scratching my head, trying to figure out why you need two. Do you ride one while the other recharges ? Do you wait a couple of months, and sell the second one back to the Pro's Closet, thus recouping a portion of your original investment ? Is one of them for my imaginary friend ?
It is interesting that these are new bikes, not used ones. It suggests that Pro's Closet bought up a bunch of stock and failed to unload the inventory before the demand collapsed. They probably had a huge mark-up, so this allows them to sell at what appears to be the original price, rather than slash it by 50% (which could have a negative effect on other sales, as potential buyers hold out for a better deal).
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10-18-22, 11:06 AM
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...still scratching my head, trying to figure out why you need two. Do you ride one while the other recharges ? Do you wait a couple of months, and sell the second one back to the Pro's Closet, thus recouping a portion of your original investment ? Is one of them for my imaginary friend ?
10-18-22, 11:18 AM
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Yep. I saw at least one instance of just that at a campground during one of my tours over the last few years. It might have been in Burlington, VT. I honestly cannot remember the exact location.
10-18-22, 12:12 PM
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Hmmmm. I'm not sure why it matters whether TPC goes back to the same staffing levels as 2019, because the current layoffs reflect a softening of the used bike market, which may reflect a softening of the market as a whole, which is entirely expected given the softening of the trainer market.
If the staffing levels returned to those in 2019, then things might not be too bad (the COVID boom wasn't sustainable). With a 4-fold increase in TPC's business, there's some chance that the post-layoff numbers are larger than the 2019 numbers.
Last edited by njkayaker; 10-18-22 at 12:19 PM.
10-18-22, 12:44 PM
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I've bought several items from The Pros Closet on E-Bay. But don't really bump into their online store very much.
A little less cycling recently, so fewer online purchases.
A little less cycling recently, so fewer online purchases.
10-18-22, 12:54 PM
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10-18-22, 12:55 PM
#47
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Is the "softening of the used bike market" relative to the hot COVID market or to pre-COVID levels? Knowing the relative staffing levels pre-COVID, COVID, and post-COVID means you know more about what is going on. That's why it "matters".
If the staffing levels returned to those in 2019, then things might not be too bad (the COVID boom wasn't sustainable). With a 4-fold increase in TPC's business, there's some chance that the post-layoff numbers are larger than the 2019 numbers.
If the staffing levels returned to those in 2019, then things might not be too bad (the COVID boom wasn't sustainable). With a 4-fold increase in TPC's business, there's some chance that the post-layoff numbers are larger than the 2019 numbers.
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10-18-22, 01:01 PM
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It's early days to know that yet. Will these layoffs be the last ones? Hard to tell from the outside. My assumption is that the market is still in flux, that all the supply issues that plagued the industry the last two years are not completely resolved. For example, a number of the big bike companies ramped up production to meet demand, so will a big wave of supply coincide with a big drop in demand? I would not want to be a recent hire at a bike company these days.
10-18-22, 01:08 PM
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10-18-22, 01:18 PM
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Ok, I found The Pro's Closet E-Bay store.
https://www.ebay.com/sch/Sporting-Go...=theproscloset
Then no longer have the tons and tons of listings they used to have.
Looking at their web page, everything has gotten so very expensive, and not really in my ballpark anymore.
https://www.ebay.com/sch/Sporting-Go...=theproscloset
Then no longer have the tons and tons of listings they used to have.
Looking at their web page, everything has gotten so very expensive, and not really in my ballpark anymore.
