Asked about their current use of cloud-computing services, a majority of senior finance executives either have no plans to pursue it in the short term, or are doing so very tentatively. Nearly a third admit that they aren’t even sure what “cloud computing” really means. Yet, when asked how cloud computing might affect their company’s approach to IT longer term, almost half say they believe it will enable a significant restructuring of their entire IT strategy. [CFO]
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Home Depot CFO: We Don’t Want to Blame the Weather But We Are Blaming the Weather
- GoingConcern
- March 30, 2010
This story is republished from CFOZone, where you’ll find news, analysis and professional networking tools for finance executives.
Most investors appreciate seasonality. They get that retail peaks around Christmas and that your big back to school sale will be in August.
Still, some executives like to remind us that their business is busier at certain times of the year than at others. And it’s not uncommon for execs to claim the weather ate their earnings.
All in all, these explanations are pretty lame. Either investors already understand the business cycle or they don’t want to hear the excuse.
Given that, I like the approach of Carol Tome, CFO of Home Depot.
At a retail conference sponsored by Citigroup, “Tome said that while the retailer hates to be one that cites the weather for sales trends variability, Home Depot does experience that, and it has seen ‘great variability’ in weather conditions across the country so far this year.”
So, there you go. Tome agrees that blaming the weather is lame. But, at the same time, you have to agree that the weather this year has been pretty outrageous, right?
Then again, Tome isn’t totally going to hide behind the clouds.
“Nothing has come to our attention that suggests we can’t hit the financial objectives that we’ve set forth,” she said, according to Dow Jones.
In the end, if you’re a Home Depot investor, pray we don’t have a June like last year.
“When the sun is shining, we’re very, very pleased with our performance,” Tome said.
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Are You Startup CFO Material?
- Caleb Newquist
- February 23, 2016
I like this CFO article on finance chiefs who prefer startups. Had I not bailed […]