Retailer Turned Around


Annual Sales



Endicott Johnson DBA Father & Son Shoes, Endicott NY


National retailer of men’s shoes and manufacturer of private label brands. $35 million in revenues. $15 million revolver.

  • Endicott Johnson had a storied history, one time being the largest shoe manufacturer in the world, employing more than 19,000 employees; passed through the hands of multiple generations it operated principally as a retailer in 64 different locations nationally
  • Lost identity in the marketplace becoming all things to all people; stores were experiencing double digit sales decreases  for six consecutive months
  • Customer satisfaction was very low, poor quality in private label brands, declining margins, poor inventory management
  • Employee turnover was very high; 45% at manager level, 89% at sales associate level; morale throughout company was terrible


  • MorrisAnderson engaged as Interim CEO
  • MorrisAnderson changed the old autocratic, top-down management style to a more customer focused, team-based structure
  • Narrowed the scope and focus of the customer base; built around the core of highly dedicated customers; consistently anticipate and exceed core customer expectations
  • Relentlessly gather, monitor and manage key metrics of the business; re-build the entire financial, merchandising and POS systems
  • Improve relationships with manufacturing operations in Europe and China


  • In approximately eleven months the business experienced a dramatic turnaround from a deep cash burn of $5 million annual and losses to a net profit of over $2 million annually
  • In this period of time revenue increased 12%, gross margins improved by 11%, inventory turns improved by 55%, “stock-outs” decreased dramatically
  • Reduced customer returns to a historic but sustainable low of 0.1%
  • Employee turnover at all levels declined to 5%