Reuters reports that Mark Hansen, chairman and CEO of beleaguered Fleming Cos., has sent a letter to the company’s employees saying that “the current status of our business is strong and, therefore, our depressed stock price in is not reflecting our strengths.”
Fleming is selling its retailing units, is facing investor lawsuits accusing it of misleading the markets about the health of its retail division, and has seen its stock price tumble in recent months.
Referring to Fleming’s connection to Kmart, Hansen wrote, “Simply put, we are not dependent upon any single channel of distribution, no any single customer, customer category or format for our long-term success. The stock will take care of itself, and investors will be rewarded for their faith and patience.”
Fleming is selling its retailing units, is facing investor lawsuits accusing it of misleading the markets about the health of its retail division, and has seen its stock price tumble in recent months.
Referring to Fleming’s connection to Kmart, Hansen wrote, “Simply put, we are not dependent upon any single channel of distribution, no any single customer, customer category or format for our long-term success. The stock will take care of itself, and investors will be rewarded for their faith and patience.”
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