Kids Stuff Lays Off Marketing Workers While It Awaits Funds

Canton, OH—Children’s products cataloger Kids Stuff, whose titles include Perfectly Safe and Natural Baby, laid off six employees, or 18 % of its workforce, late last week. But CEO William Miller expects the layoffs to be temporary.

The laid-off employees worked in the company’s marketing department, which is undergoing a “restructuring,” Miller says. “We expect it to be a 90-day layoff, with the ability to rehire them after our funding comes through.” He adds that Kids Stuff has no plans for additional layoffs.

Kids Stuff’s sales for 2000 were $15.9 million, down 5% from sales of $16.8 million in 1999. Worse, the cataloger posted a net loss of $3.4 million for the year, compared with net income of $48,058 for 1999. Miller says the company is finalizing a “major funding initiative and restructuring” that would net $3 million-$4 million. He would not disclose the source of the funding.

Partner Content

Hincapie Sportswear Finds Omnichannel Success in the Cloud - Netsuite
For more and more companies, a cloud-based unified data solution is the way to make this happen. Custom cycling apparel maker Hincapie Sportswear has leveraged this capability to gain greater visibility into revenue streams, turning opportunities into sales more quickly while gaining overall operating efficiency. Download this ecommerce special report from Multichannel Merchant to more.
The Gift of Wow: Preparing your store for the holiday season - Netsuite
Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?
3 Critical Components to Achieving the Perfect Order - NetSuite
Explore the 3 critical components to delivering the perfect order.
Streamlining Unified Commerce Complexity - NetSuite
Explore how consolidating multiple systems through a cloud-based commerce platform provides a seamless experience for both you, and your customer.