Restructuring and Layoffs at Fayetteville-based Acumen Brands
by January 9, 2015 2:59 pm 483 views
Responding to media inquiries about a recent restructuring that resulted in layoffs at Country Outfitter, an e-commerce firm that belongs to Fayetteville-based holding company Acumen Brands Inc., company spokeswoman Lela Davidson on Friday issued the following statement to the Northwest Arkansas Business Journal:
“Last year brought tremendous clarity and focus to the key areas of growth in our business. This required changes to our structure, which affected personnel. We were terribly sorry to say goodbye to members of our family and did so in service to the overall company strategy, which like that of every healthy business, continues to evolve.”
Davidson did not specifically say how many jobs were eliminated.
Davidson also said that Acumen Brands founder and CEO John James “made a personal decision to step down as CEO in September.” James, however, remains on the Acumen board of directors and still acts as the company’s founder.
Terry Turpin, who served as chief operating officer at Acumen Brands since its founding in 2009, has been serving as the company’s CEO since James left the position.
James recently launched the Phactual website, which features list-themed articles, trivia and fact-based quizzes on an array of subjects, including pop culture, history, science, geography and fine arts.
Davidson said James’ decision to vacate his CEO post had nothing to do with the recent layoffs and that the layoffs do not reflect a downward trend in the fortunes of Country Outfitter, a premier online retailer of high-end cowboy boots and country lifestyle merchandise.
“Our 2014 holiday retail season was our best yet, with record-setting sales on Black Friday and Cyber Monday,” Davidson said. “We have grown to lead the country lifestyle space and have successfully launched new products, brands, and media this year.”
James was a member of the Business Journal’s 2014 Forty Under 40 class. In an interview for that profile, he said Acumen Brands’ revenue will likely hit nine figures in 2015.
James is scheduled to moderate this year’s Business Forecast Luncheon on Jan. 30 in Rogers at the John Q. Hammons Convention Center.
The Acumen Brands website, acumenholdings.com, was offline Friday, with a message that an updated site is coming soon.