Hallstead Jewelers: Gretchen Reeves And Michaela Hurd Brothers
Description
In 2002, Gretchen Reeves and Michaela Hurd sisters took over the management of Hallstead Jewelers, which was established 83 years earlier by their grandfather and has become one of the largest jewelry and gift stores in the United States for its product diversity strategy, comprehensive range of commodities and brand name recognition among the same industries and customers. After sales became stagnant and profits started to slip since 1999, the sisters decided to change the location and start extensive and expensive renovations. Renovation and moving took most of 2005, while the sales condition was not optimistic as expected in 2006.
Problems and Issues
The major problems of the business are falling sales, increasing costs and
In 2002, Gretchen Reeves and Michaela Hurd sisters took over the management of Hallstead Jewelers, which was established 83 years earlier by their grandfather and has become one of the largest jewelry and gift stores in the United States for its product diversity strategy, comprehensive range of commodities and brand name recognition among the same industries and customers. After sales became stagnant and profits started to slip since 1999, the sisters decided to change the location and start extensive and expensive renovations. Renovation and moving took most of 2005, while the sales condition was not optimistic as expected in 2006.
Problems and Issues
The major problems of the business are falling sales, increasing costs and