Gee, I know the line isn't new but it does seem fitting here! I logged on to send a "test order" on the dotcom site and it seems that the $3 went the wrong way! The SRP did not change, they just took$$ out of the order to get the "$10" delivery but the ballsey adding of $3 to their already overpriced "service charge" is really galling.
Are you saying they skimmed $3 off the retail price before sending it the florist or they took $3 from the $14.99 service charge to up the florist's delivery portion to $10?
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Guys, this sale to United Online is not completely a "done deal". The stock price ($13.26 today) still keeps falling and is well below the 'price per share' ($15.08) offered under the purchase agreement.
From what I can see, FTD has used a bunch of very short-term tactics to prop up the numbers like:
-offering Dz roses and lily arrangements through Walmart.com for $19.99 total delivered during M Day. They announced a 12% increase in orders shortly after the holiday.
We could all be up 12% if we were willing to lose money on orders.
- writing themselves a pay raise with the new delayed response fees. They make more money if the orders go unforwarded and especially unfilled. With the quarter ending 6/30, they had to have an income increase so the program
had to start 6/1. Does anyone believe they're offering all customers full refunds and resending the orders? If so, I have a bridge to sell you...
All that 'delayed response revenue' is going to show up as income in the 4th quarter.
I'm hearing that florists are dropping at an alarming rate. One of my friends told me today that despite filling 800 orders a year for FTD, she's quitting. The new policy with no price increase requests and all the delayed response fees finally put her over the edge.
She is the best florist - by far - in her area. Most likely on some of those 'golden lists'.
Heard rumor that bonuses are being offered if sales team members can stop the flood of shops leaving before the sale's supposed to close.
Seems FTD's team is primarily concerned with unloading the company and cashing out.