First retail ‘name’ to pop off 2018
Discussion
Yipper said:
Westfield shopping malls, in East and West London, a decent barometer for highstreet shopping in the capital, grew footfall +1% YoY over Xmas 2017.
https://www.drapersonline.com/news/westfield-chris...
Footfall does not mean sales.https://www.drapersonline.com/news/westfield-chris...
scenario8 said:
Well I wasn’t the only armchair know all to query Maplin’s robustness but I have so little praise in my life so I’ll just quote myself to feel smug for a moment.
And then terribly empty.
Rubbish for employees and creditors, naturally.
+1And then terribly empty.
Rubbish for employees and creditors, naturally.
As the OP I mentioned two. Dotty P’s and Maplin.
They’re not gone yet though!
I think the restaurant sector will see a big one go this year.
Yipper said:
The high street will survive, but it does need to slim down. The days of big stores with shiny displays and wide aisles are gradually disappearing. Amazon and others are killing them off. Retailers (all types) need to become more like Aldi or Lidl -- compact stores with a handful of well-paid staff that cram as much stuff in one place as possible, to maxmise revenue and minimise costs.
Maplin failed because it had too many staff, too-high prices, and a terrible product range.
fMaplin failed because it had too many staff, too-high prices, and a terrible product range.
k me. What are you doing on PH?You should be advising governments.
Henners said:
jayymannon said:
I was in last week and they had some deep discounting going on.Given the lead time for a new carpet, 2-3 weeks in our case, I expect this story will result in them losing a few sales.
Money up front to a failing business? A la Land of Leather? Alarm bells will ring for plenty.
hyphen said:
That is Poundworld, not Poundland.
Although I don't know how well the latter is doing either, Poundland are trying to move as much of their store to £3-£20 products as possible, including a lot of clothing.
Oops! Shows how we take some things for granted - I did read it as Poundworld but wrote it as Poundland!Although I don't know how well the latter is doing either, Poundland are trying to move as much of their store to £3-£20 products as possible, including a lot of clothing.
gothatway said:
What's so great about Retail ? All the sector does is absorb money without adding value (except a few cases where advice might be of value). I exclude coffee shops, betting shops, hairdressers, banks and suchlike where a personal service is provided. But food, clothing, furniture - just add a cost to the consumer. I guess travel agents can provide an advice service, though mostly nowadays they can be bypassed.
And this, in a nutshell, is why high streets are failing. It’s a terrible viewpoint, and not a valid one.
IMO, essentially, people are all too quick to resort to Amazon and the suchlike to try and get it a pound cheaper. High streets provide far more than the obvious. Especially small town high streets. They are a point of contact, a social meeting place, somewhere to be someone, to interact and to contribute.
They provide jobs, a future, investment. They knit together communities in a far far better way than social media ever could.
I am quite happy to pay a little more to buy local, to keep money in the local economy. It is money well spent.
The retail race to the bottom is one of the worst things of the 21st century.
voyds9 said:
And what annoys me as a high street retail outlet is the number of public who view in my shop and but buy online to save a few quid and then come back to me with problems as I am a stockist and should be responsible.
I feel for you. I think it is the height of rudeness to browse in a shop, use the facilities, and then whilst still in the shop compare/purchase online. Maybe I’m just old fashioned.
I too am in retail, although in my sector I don’t have that problem.
House of Fraser’s proposed rescue seems to have fallen through as the Chinese owners of Hamley’s have been unable to raise the funds through the issue of new shares.
I wonder if the Ashley deal rumours will now come to the fore? He owns a significant percentage of both H of F and Debenhams.
I wonder if the Ashley deal rumours will now come to the fore? He owns a significant percentage of both H of F and Debenhams.
What will happen to these large high street shops if/when they go?
How many are owned by the businesses that use them? Many must be in large pension fund holders portfolios.
It would seem as though the model didn’t work for many and conversion to smaller shops/units would be very expensive. Not my area of expertise but I find it very interesting being a shop owner in a small town - selling my own goods.
How many are owned by the businesses that use them? Many must be in large pension fund holders portfolios.
It would seem as though the model didn’t work for many and conversion to smaller shops/units would be very expensive. Not my area of expertise but I find it very interesting being a shop owner in a small town - selling my own goods.
Whilst not ‘on the high street’ retail, Wonga may well enter administration this week.
For a company that almost floated on the NYSE as a unicorn company not long ago their fall has been astonishing.
I can’t remember the last time I saw a Wonga advert.
Their possibly imminent demise is due in part to claims management companies - there is a certain irony in this, company who preyed on the less fortunate preyed upon by a company representing (for their own ultimate gain) said same less fortunate people!
For a company that almost floated on the NYSE as a unicorn company not long ago their fall has been astonishing.
I can’t remember the last time I saw a Wonga advert.
Their possibly imminent demise is due in part to claims management companies - there is a certain irony in this, company who preyed on the less fortunate preyed upon by a company representing (for their own ultimate gain) said same less fortunate people!
This is PH!!AstonZagato said:
Councils are trying to ream the motorist and the businesses for as much cash as they can. They are bemused by the manner in which their city/town centres are declining. No planning going on.
Apologies for the big snip.This is a very important point. Councils are more than cash strapped - I'm sure that many would be included in this thread if they were retail outlets. A failure to plan on almost every level leading to spiralling costs and declining revenues. Where I live we are very fortunate to have a lovely high street with a good mix of national and independent retailers. Only the independents have survived unscathed over the last few years in spite of increased rents and rates.
The council have now decided to introduce parking charges for Sundays and bank holidays in their failing efforts to balance the books, along with increasing parking season tickets by up to 80%.
Chief executive paid more than the PM, I struggle with that.
Mike Ashley certainly seems to be acquisitive at the moment.
Having a quick read it seems as though half the stores will go.
The commercial property firm advising have said: ‘We are looking forward to working with landlords in order to help create a sustainable business’
I read that as ‘we will be actively looking to aggressively cut the rents we are paying’
I cycle but I was never that keen on their website. Seemed very confused to me.
Having a quick read it seems as though half the stores will go.
The commercial property firm advising have said: ‘We are looking forward to working with landlords in order to help create a sustainable business’
I read that as ‘we will be actively looking to aggressively cut the rents we are paying’
I cycle but I was never that keen on their website. Seemed very confused to me.
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