40 Stores to close....

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Re: 40 Stores to close....

Post by blythburgh » Mon May 07, 2018 9:13 am

Woman's Hour today is about shopping on the High Street and it features a group of shoppers and shopkeepers in Stockport

Does not sound great but I guess a lot of people will go to Manchester for a "big shop" of non food stuff in the way locals here go to Norwich
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Re: 40 Stores to close....

Post by Boro Boy » Mon May 07, 2018 4:52 pm

blythburgh wrote:Woman's Hour today is about shopping on the High Street and it features a group of shoppers and shopkeepers in Stockport

Does not sound great but I guess a lot of people will go to Manchester for a "big shop" of non food stuff in the way locals here go to Norwich
...and I thought all they talked about was knitting... ;)
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Re: 40 Stores to close....

Post by blythburgh » Tue May 08, 2018 8:04 am

Boro Boy wrote:
blythburgh wrote:Woman's Hour today is about shopping on the High Street and it features a group of shoppers and shopkeepers in Stockport

Does not sound great but I guess a lot of people will go to Manchester for a "big shop" of non food stuff in the way locals here go to Norwich
...and I thought all they talked about was knitting... ;)
You forgot the crochet group. There are often fierce debates as to which is best and not sure the interviewer is always fair to us knits. ;)
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Re: 40 Stores to close....

Post by Boro Boy » Thu May 10, 2018 11:14 am

Yet more bad news...! A crash in slow motion...?

BT lays off 13,000 : http://www.bbc.co.uk/news/business-44065422

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Re: 40 Stores to close....

Post by William Joseph1 » Thu May 10, 2018 11:26 am

Boro Boy wrote:Yet more bad news...! A crash in slow motion...?

BT lays off 13,000 : http://www.bbc.co.uk/news/business-44065422
Losing 13,000
Hiring 6,000

Profits rise 11% to £2.6bn
BT clearly thinks it has too many staff doing jobs not needed in the digital world. Its wide-ranging corporate shake-up is an attempt to simplify the business, to squeeze more profit out of each pound it spends.

It's under pressure to pump more money into fibre optic and super-fast mobile networks and to fill the black hole in its pension scheme. It has made more efforts on those fronts today.

Thousands of new hires will be engineers and cyber-experts, focusing not on copper cables, but on building the physical and mobile networks of the future. It's also trying to improve its customer service and mend relations with the regulator.
Seems to me like a company trying to address the issues it faces rather then a crash in slow motion, But time will tell.
A third of the job reductions will come from outside the UK in its Global Services division.
So the net loss in the UK is far less than the headlines would have you believe.
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Re: 40 Stores to close....

Post by Sarah » Thu May 10, 2018 4:47 pm

"UK retail sales record worst fall in 23 years"
https://news.sky.com/story/retail-sales ... s-11364810

"High street crisis forces Greggs to warn on profits"
https://www.telegraph.co.uk/business/20 ... sales-hit/
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Re: 40 Stores to close....

Post by William Joseph1 » Sat May 12, 2018 4:16 pm

Poundworld now up for sale. Story here http://www.bbc.co.uk/news/business-44093731
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Re: 40 Stores to close....

Post by blythburgh » Sun May 13, 2018 8:13 am

William Joseph1 wrote:Poundworld now up for sale. Story here http://www.bbc.co.uk/news/business-44093731
DIfficult to sell everything for a squid when the pound is devalued after Brexit and inflation adds to the difficulty of getting enough stuff to sell and still cover your costs and make a profit
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Re: 40 Stores to close....

Post by planteria » Sun May 13, 2018 8:18 am

the problem is that there is a lot of £1 competition now..

i went to a discount retailer, Savers, yesterday as i needed some tiny toiletries, for travelling this evening. it was packed out, 20 minute wait in the queue, and a fortune ringing through the tills. i've never been in before, and so it's far from scientific, but they seem to be doing something right.

i bought more AMZN a few days ago, along with some more GOOGL as it happens. one of my pals has bought and is looking at other UK retail equities.. he likes Next, for example, with their dividends and share buybacks. but i'm still keeping clear at this stage.
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Re: 40 Stores to close....

Post by blythburgh » Sun May 13, 2018 8:31 am

planteria wrote:the problem is that there is a lot of £1 competition now..

i bought more AMZN a few days ago, along with some more GOOGL as it happens. one of my pals has bought and is looking at other UK retail equities.. he likes Next, for example, with their dividends and share buybacks. but i'm still keeping clear at this stage.
Next went into the catalogue market then online so might be one of the great survivors but probably with less stores.

I was in Walsingham earlier this year talking to a resident who also manages the Let the Children Live charity shop. We were discussing the cafe opposite which had closed due to illness and has now been sold. As she said unless it is a very niche shop only a cafe would work. The village is left with one general store, one cafe (formerly a shop selling pound stuff, some higher price stuff and some second hand stuff in the room above which was sold by the family when the owner retired, it was profitable but not enough profit for the new owners). Another cafe is now a studio which transmits services etc from the nearby Roman Catholic chapel etc. Far less shops and cafes since our first visit to the village. But nearby Wells Next the Sea remains vibrant and full of independent shops with only a Co-op that is not part of a chain.
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