40 Stores to close....

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Re: 40 Stores to close....

Postby William Joseph1 » Wed May 02, 2018 2:21 pm

House of Fraser to close stores and change of ownership http://www.bbc.co.uk/news/business-43973149

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Re: 40 Stores to close....

Postby pabenny » Wed May 02, 2018 3:57 pm

pabenny wrote:For example, House of Fraser and Debenhams seem to me increasingly irrelevant and have nothing that isn't found elsewhere on the high street. I don't even think of shopping at either - and to judge by the stores that I pass, nor do other people.


Told you so.

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Re: 40 Stores to close....

Postby pabenny » Wed May 02, 2018 4:10 pm

And what else does my crystal ball foresee?

The 'value' sector generally - lower income households have been particularly squeezed by austerity and benefit freezes/cuts and the stores are not appealing to those trading down. We've recently seen Poundworld talking of closing a quarter of their stores. There may be others that have over-expanded. I rate Home Bargains and their stores are always busy. Poundstretcher stores look tired and undifferentiated; there may be others having to retrench.

The Matalan stores I know also look very tired and the business may have been distracted by the relocation of their head office and distribution centre a couple of years ago.

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Re: 40 Stores to close....

Postby Boro Boy » Fri May 04, 2018 11:07 pm

BT laying off 6,500 staff... What next I wonder...!

If I didn't know better I'd say there is a slow motion crash on the way...!

See: https://www.msn.com/en-gb/money/news/bt ... spartanntp

Thought you'd like the Italian bit!

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Re: 40 Stores to close....

Postby blythburgh » Sat May 05, 2018 7:21 am

Loose's has been selling in Norwich for over 200 years and only 2 different owners in all that time. But although it is a performing well with good footfall and profits the owner is closing the store and will be concentrating on selling online. He thinks it is sustainable to have the shop now but does not think it will be sustainable in 5 years time.
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Re: 40 Stores to close....

Postby Boro Boy » Sat May 05, 2018 10:58 am

blythburgh wrote:Loose's has been selling in Norwich for over 200 years and only 2 different owners in all that time. But although it is a performing well with good footfall and profits the owner is closing the store and will be concentrating on selling online. He thinks it is sustainable to have the shop now but does not think it will be sustainable in 5 years time.


I wonder what he anticipates is going to occur over the next 5 years and beyond... :think:

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Re: 40 Stores to close....

Postby RonFlorabud » Sat May 05, 2018 11:22 am

Boro Boy wrote:
blythburgh wrote:Loose's has been selling in Norwich for over 200 years and only 2 different owners in all that time. But although it is a performing well with good footfall and profits the owner is closing the store and will be concentrating on selling online. He thinks it is sustainable to have the shop now but does not think it will be sustainable in 5 years time.


I wonder what he anticipates is going to occur over the next 5 years and beyond... :think:


Perhaps he has eyes and has noticed what is happening in the "High Street". Five years is a long time and without doubt many more big name stores will have disappeared.

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Re: 40 Stores to close....

Postby Boro Boy » Sat May 05, 2018 4:48 pm

RonFlorabud wrote:
Boro Boy wrote:
blythburgh wrote:Loose's has been selling in Norwich for over 200 years and only 2 different owners in all that time. But although it is a performing well with good footfall and profits the owner is closing the store and will be concentrating on selling online. He thinks it is sustainable to have the shop now but does not think it will be sustainable in 5 years time.


I wonder what he anticipates is going to occur over the next 5 years and beyond... :think:


Perhaps he has eyes and has noticed what is happening in the "High Street". Five years is a long time and without doubt many more big name stores will have disappeared.


Perhaps he does have eyes, perhaps not, but I wonder what he knows that hasn't already been mentioned in this thread since its begining... :wtf:
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Re: 40 Stores to close....

Postby pabenny » Sun May 06, 2018 7:57 am

Boro Boy wrote:... I wonder what he knows that hasn't already been mentioned in this thread since its beginning...


Obviously he will know the specifics of his business. Beyond that, the main themes affecting retail have been mentioned in this thread:

- the costs of a high street store continue to rise - occupancy costs (rent, rates, utilities) and staff costs have been rising faster than inflation and there's nothing to suggest that trend will abate

- more of us are spending more online, and that also isn't going to change.

If I were running or advising a retailer, I would be thinking along the same lines as the owner of Loose's. And he's right to be planning action before it's too late.
Last edited by pabenny on Sun May 06, 2018 12:23 pm, edited 2 times in total.

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Re: 40 Stores to close....

Postby planteria » Sun May 06, 2018 8:23 am

agreed. niche+/internet. or forget it - accepting that 'mass market grocery' or 'discount everything' are niches of sorts.

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