Villagomez said the company made “steady progress” on initiatives aimed at stabilizing the business and supporting future growth, with a key move being a shift to a function-based operating structure from a brand-based structure. He said the prior approach created duplication, limited collaboration, and slowed decision-making, while the new structure is intended to improve efficiency, clarify ownership, and increase cross-business collaboration.While direct traffic declined more than expected during the hol ...