40 Stores to Close... (part 2)

Money, investing, mutuals etc
planteria
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Re: 40 Stores to Close... (part 2)

Post by planteria » Tue May 22, 2018 3:20 pm

Boro Boy wrote:With over 11,000 visits to the initial thread this is obviously a theme that members are interested in/concerned about... :think:
agreed. if a thread runs well, i would let it.

i'm sorry to see M&S Walsall is proposed for closure. my Auntie used to work there.
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Re: 40 Stores to Close... (part 2)

Post by William Joseph1 » Tue May 22, 2018 4:13 pm

Tesco Direct to close! Now this on the other hand will be greatly missed http://www.bbc.co.uk/news/business-44211616
Whilst Tesco is promising to add non-food lines to the grocery website I would be very surprised if this is much more than a small selection."
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Re: 40 Stores to Close... (part 2)

Post by pabenny » Tue May 22, 2018 5:23 pm

Tesco were seen as invincible a few years ago, so the closure of Tesco Direct is a real surprise. In hindsight, it was predictable - the site and range were tired and not distinctive.

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Re: 40 Stores to Close... (part 2)

Post by Boro Boy » Wed May 23, 2018 9:49 am

It seems that management and not just market conditions are at the source of M&S's current challenges: https://www.msn.com/en-gb/money/news/ma ... spartanntp
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Re: 40 Stores to Close... (part 2)

Post by Boro Boy » Wed May 23, 2018 11:51 am

Going... going... almost gone!

Maplin.jpg
Maplin - almost gone at 80% discount...
Maplin.jpg (138.61 KiB) Viewed 915 times

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Re: 40 Stores to Close... (part 2)

Post by William Joseph1 » Fri May 25, 2018 8:03 am

Homebase has been sold for £1

http://www.bbc.co.uk/news/business-44248409

Well thats a comedown!
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Re: 40 Stores to Close... (part 2)

Post by planteria » Fri May 25, 2018 8:29 am

the Homebase acquision has been farcical. some products were out of stock very early, in market and weather conditions that even went management's way. a quick glance at epos would have been plenty :think:.
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Re: 40 Stores to Close... (part 2)

Post by pabenny » Fri May 25, 2018 8:35 am

A sorry story of value destruction over many years.

Sainsbury sold the business for £750m in 2000 (plus another £219m for some undeveloped sites).
Two years later GUS paid £900m
Wesfarmers' purchase two years ago was for £340m
And now just £1.

It's less obvious why the DIY/home improvements sector should be struggling - most of the range is not really amenable to online sales. I guess that 'generation rent' means that the prime market of younger owner-occupiers has been shrinking for many years. And Screwfix/Toolstation have been stealing parts of the market, and probably Aldi/Lidl as well.
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Re: 40 Stores to Close... (part 2)

Post by Boro Boy » Sun May 27, 2018 9:10 pm

The story inside the story (perhaps):
https://www.msn.com/en-gb/money/news/si ... spartanntp
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Re: 40 Stores to Close... (part 2)

Post by Sarah » Mon May 28, 2018 8:49 am

Dunelm issued another warning last week:
https://www.telegraph.co.uk/business/20 ... t-warning/
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