back to article Systemax bleeds $28m while its shares bounce off the floor

With the store closure programme Stateside, the axe falling on EMEA boss Pim Dale, and the industry-wide currency crisis, portents of doom hung over Systemax’s Q2 numbers. And so it has come to pass – the once mighty tech reseller last night reported another quarter of double digit sales declines and widening losses. Turnover …

  1. The Godfather


    Odd, how currency movement favour some and not others...

  2. Anonymous Coward
    Anonymous Coward

    Well duh

    "The company was a slick reselling outfit, but with falling product margins it tried to build a mid-market services operation. The problem Dale faced was that while he was spinning up one new plate, the existing ones started to fall."

    I hope that this isn't a surprise to US management, it certainly isn't for anyone who has worked at Misco in recent years.

    This is not the benefit of hindsight - many good people saw this early on and jumped or were pushed when they wouldn't tow the line. The people who should be most ashamed are senior management, some of whom are still there, who knew it as well but allowed it to happen. Hopefully Simon won't let his ego be massaged by the yes men and women, while it all turns to shit.

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