September 04, 1998
Successories Will Focus on DM, Retail
Successories, Aurora, IL, said this week that it will restructure its business to focus on its core motivational products business and its two most profitable distribution channels -- direct marketing and franchised retail stores. The company plans to grow those channels by focusing on motivational products, recognition products, training products and corporate gifts. As a result of the restructuring, 33 company-owned stores will be converted to franchises and the company's newly launched golf catalog business will be divested. "Our Successories catalog and our wholesale operation that sells to franchisees are our most profitable divisions," said Mac Anderson, company chairman/CEO. "The transition will make Successories a stronger company with significantly less debt, lower overhead and better operating profit margins." The company's golf catalog, which will be divested, was launched in the first half of the year for The Golf Co. from Golf Digest.