Woolies. MFI. Who is next
- Thread starter MikeH
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There is still room for other retailers to go under... unfortunately.
But if you control your costs you will come out with just a few scratches at the end of it - there is still money out there - its simply a case of how much of the pie you can take.
IMO, there is a retailer mentioned above that is coping quite well with the tough trading conditions, purely by trying to increase sales whilst decreasing costs.
But if you control your costs you will come out with just a few scratches at the end of it - there is still money out there - its simply a case of how much of the pie you can take.
IMO, there is a retailer mentioned above that is coping quite well with the tough trading conditions, purely by trying to increase sales whilst decreasing costs.
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Reminds me of when my hubby took my step daughter (13yrs, bit of a ned) into House of Fraser and asked the snooty shop assistant in hobbs "is this where the young girls come to buy clothes?"
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I don't think this ones too bad, it's a stock price underwriting deal rather than an outright debt, and the stock in question is still on the shelves and should all be sold over the Christmas closedown period.
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wordsinart
BHS/Lewis's/My local Spar are all fine.
Woollie's should have changed their model years ago - they only got away with it because we (not me, my kids are adults now) bought the shoite because we had too much money. Woollie's didn't die because of the Robert Preston/Robert Murdoch driven credit crisis, they died because they sold stuff that people didn't want when given a choice.
Anyone remember Templetons, the Co-op, What Every's et. al.
No credit crunch to blame there, but same problems
Woollie's should have changed their model years ago - they only got away with it because we (not me, my kids are adults now) bought the shoite because we had too much money. Woollie's didn't die because of the Robert Preston/Robert Murdoch driven credit crisis, they died because they sold stuff that people didn't want when given a choice.
Anyone remember Templetons, the Co-op, What Every's et. al.
No credit crunch to blame there, but same problems
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Rhyl Lightworks
One of our main suppliers, Micromark, went into administration about 2 weeks ago. They may not be a name on everyone's lips, but they are quite big, supplying the likes of Argos, B&Q, etc., as well as independents like ourselves.
While I think most of their products represent good value, their distribution and service was appaling and they were also mortgaged up to the hilt and their predicament comes as no surprise. I think there is a lesson to be learnt here. Companies that survive will have good customer service, and controlled debt.
Barrie
While I think most of their products represent good value, their distribution and service was appaling and they were also mortgaged up to the hilt and their predicament comes as no surprise. I think there is a lesson to be learnt here. Companies that survive will have good customer service, and controlled debt.
Barrie
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Rhyl Lightworks
I have just been into town (something I try normally to avoid) to do some Christmas shopping, and was surprised to find such things as Woolworths with their supposed 60% off were selling Duracell batteries at more than we are, WH Smiths are selling a DVD I was going to buy at substantionally more than I can get it on Amazon, and as for the prices at Boots .............. no wonder these companies are in difficulty.
Barrie
Barrie
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I don't think BHS is a good example as Philip Green certainly knows what he is doing plus BHS doesn't have the debt that others have. And although we may not all appreciate it, it does have a very loyal following.
Lots of shops and chains will go under - those with large amounts of debt, those who keep slashing prices who will end up in a downward price spiral and suffer margins which are too tight, a large proportion of independents because people don't shop in small shops anymore and those in certain industries such as photographic, furniture, clothing, cars, computing, electrical, jewellery and many more.
Lots of shops and chains will go under - those with large amounts of debt, those who keep slashing prices who will end up in a downward price spiral and suffer margins which are too tight, a large proportion of independents because people don't shop in small shops anymore and those in certain industries such as photographic, furniture, clothing, cars, computing, electrical, jewellery and many more.
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Damian@Inca
I was in the large Mamas and Papas store this week and it was completely empty and the sales girls were talking to each other and said that they had only had 3 sales all day! They do some great products in there but most expensive and in todays climate surely its only a matter of time before they start struggling??
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W.H Smiths should have gone a long time ago. B.h.S no way, were would all the people with more money than sense be able to do their shopping? I read somewhere that in "times like this dont panic, But if you must panic do it early". And that is what is happening right now with so many companies.
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silvermusic
Considering it's the last weekend before Xmas, I was really suprised today by how little trade most of the shops seem to be doing. Sure the town is busy, but I didn't see sales staff in any shops under any great pressure, didn't have to queue anywhere I went in the middle of the afternoon, much different to last year.
As for the next high st casuilty JJB has to be at the top of the list along with Jessops. Not convinced about Curry's although they've had a tough time this last year, their share price has gone through floor as well, a couple of weeks ago hitting just under 10p. I believe they now have the right man at the top who wont hesitate to cut out the dead wood in the company of which there apprears to be a lot.
As for the next high st casuilty JJB has to be at the top of the list along with Jessops. Not convinced about Curry's although they've had a tough time this last year, their share price has gone through floor as well, a couple of weeks ago hitting just under 10p. I believe they now have the right man at the top who wont hesitate to cut out the dead wood in the company of which there apprears to be a lot.
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Barnie
Boots are doing very well compared to other stores
remember alot of the money comes from prescriptions which comes from the govrment, they own the largest medial dstribution company in europe which deals to other companies,very strong cut backs on spending this year tooh forgot to mention our store sales were the highest ever today and for the week so its not doing to bad, the company is doing very very well actualy
any way on with my thoughts for the high street
BHS - actualy i think is doing well, a few debts from refits but good sales
house of fraser, been in trouble for years could see them working hard after christmas
Zara - not dong so well at the moment
lancome- used to be in the top 3 cosmetics companies in the uk, had big trouble a few yars back and they are strugling again
wh smiths, will be ok but could se them scale back operations and change format of some stores
jjb - its on the cards but will it get bought out who knows
karen millan - part of a group and been sending out 25% off vouchers to other companies recently so the group could be in trouble, principles are part of the group
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I would love to think Carphone Warehouse with a share price drop from £3.90 a year ago to under 90p now. Especially as the networks are cutting back an are bringing in Revenue share which basically means no more big up front payments, but a smaller upfront with an ongoing over the contract period after 6-8 months.
I also think DSG group may go.
Give it a few more months and there will be so many more empty shops than now.
It must be affecting the leisure industry as well such as Gym's, travel etc
I also think DSG group may go.
Give it a few more months and there will be so many more empty shops than now.
It must be affecting the leisure industry as well such as Gym's, travel etc
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Gavin Harris
WH Smith have been incorporating Post Offices within their stores - they've been gradually doing it over time. I'm sure that that provides them with a strong basis for the rest of the shop - and also drives traffic into the store.
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Max Speilman, Click Photopoint & Munro dry cleaners, were all part of the same group which was liquidated about two months ago.
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Hi Everyone,
My first post. Fascinated by the information posted regarding our high streets during these very scary times.
I have been told by a very good source that the DSG group is in a more serious situation than expected. Loses of around 30 million were submitted but rumours of double that being talked about. These shops are selling items with that are readily available on the internet at half the price and instantly downloadable (for music and films). No surprises people mentioning Zavvi. I would think that HMV would be a strong contender too. More so, CDs, DVDs and Games are all available in supermarkets usually at a cheaper price. Any high street shop where the focus is music cds etc must be sweating.
My first post. Fascinated by the information posted regarding our high streets during these very scary times.
I have been told by a very good source that the DSG group is in a more serious situation than expected. Loses of around 30 million were submitted but rumours of double that being talked about. These shops are selling items with that are readily available on the internet at half the price and instantly downloadable (for music and films). No surprises people mentioning Zavvi. I would think that HMV would be a strong contender too. More so, CDs, DVDs and Games are all available in supermarkets usually at a cheaper price. Any high street shop where the focus is music cds etc must be sweating.
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But that was the bit of woolies that made money. I think it depends where your focus is. You've got to be VERY precise within your market, it's not simply a case of some markets are good and some are poor.
For example EA has been the industry leader for video games for years and years. Yet they are the (only?) company that is struggling in an industry where game sales and consoles are Increasing.
The reason, EA games concentrate on the kill/shot/slash type of game, the games sales this year are being driven by Nintendo & the Wii, and Nintendo publish most of those games themselves. Most of those games being age 3+ family friendly, socially orientated games, that families play together in living rooms, instead of teenage boys playing in darkend bedrooms.
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