When Alorica hires, it’s likely to boost the stock for the company
Alorico, the maker of the Alorado and Alvarado portable refrigerators, is about to hire a senior VP of human resources.
The hiring comes after the company announced last week that it would be acquiring its business and restructuring its operations to focus on new products.
In announcing the hiring, Alorista said it was looking to boost its stock, which had been struggling in recent years.
“Alorica will hire a VP of Human Resources to support the growth and growth of our business, to help guide Aloricas vision, and to help lead Aloracost,” Aloras chief financial officer, Chris Dolan, said in a statement.
The announcement came amid growing investor concern about the company’s financial health and a string of recent reports about Alorican’s sales and sales growth.
Alorimas chief executive, Alex Leffler, said last week the company would need to make cuts in some of its operations and that a restructuring would be necessary.
“We are investing heavily in the Alora mobile technology, as well as the Aloras products and the Alarico and Alorados, to address our customers’ growth and needs,” he said in the statement.
“These investments are required to support our growth and enable our team to meet customer needs and create new revenue streams.”
Alorino said last month that its sales dropped for the fourth quarter, though its sales for the same period in 2016 rose by 8.7%.
The company said it expects its next-quarter results to be “better than anticipated.”
Alora’s stock is up more than 30% since the announcement.
The Alora was the most-sold portable refrigerator in the U.S. in 2016, according to Nielsen, and the company says it’s the top-selling portable refrigerator in the world.
Alora, which has more than 3,200 employees worldwide, also makes refrigerators for the likes of Whole Foods Market, Sam’s Club and Costco.
Aloras is owned by the company that also makes the Alvarados, the Alcoa.