A Finance Strategic Moment On Friday the 13 of March 2020, Steven Miller closed Warby Parker’s 280 stores, scrapped the freshly approved budget, and launched PAR—Pause, Adjust, Redeploy. The framework shifted cash to safety and booming e-commerce (up 100 % YoY), granting leadership daily visibility and preserving liquidity until stores reopened two months later. Now […]
1092: Balancing Mission, Margin, and Market Share | Steven Miller, CFO, Warby Parker
It was Friday the 13, in March 2020, and Steven Miller was staring at a suddenly irrelevant budget. Hours earlier Warby Parker had shuttered every one of its 280 stores to protect employees and customers. “Remember that plan we just approved?” he asked the leadership team. “Forget it.” In its place he introduced PAR—Pause, Adjust,…
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