Tough times require tough action. Which is why a major company is culling back its brand portfolio. As a result, facing some bad numbers even though it beat its earnings expectations it feels it requires an overhaul. The CEO says it will help it achieve growth targets. Consequently, if they were allowed to focus on its main brands which are performing for it. Subsequently, not waste time on weak brands that are difficult to scale and are only in specific markets not nationally. We are being distracted as a company through misallocation of resources and personnel he stated. The plan is to take all the resources freed up to support the brands that are our main earners. This means that its brand portfolio is being cut in half.
We can not supporting brands that are simply not paying or will never pay their way he informed.