High Streets Woes - part II

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High Streets Woes - part II

Post by Achtung Englander » Wed Oct 24, 2018 3:25 pm

https://www.theguardian.com/business/20 ... uk-outlets

I quite like GBK - so it would be a shame to see it go under. The one in Windsor always delivers and they have the best coleslaw and onion rings I have tasted this side of the Atlantic.
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Re: High Streets Woes - part II

Post by Sly Boots » Wed Oct 24, 2018 3:28 pm

Noooo :(

Really like GBK's food - it's expensive so for us it's a once in a while treat, but when we do go I've always had a nice meal. Will be upset if Basingstoke is one of the locations being closed. I'd be surprised, though, it's always full whenever I go past.

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Re: High Streets Woes - part II

Post by Achtung Englander » Thu Oct 25, 2018 9:33 am

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Re: High Streets Woes - part II

Post by Drarok » Tue Oct 30, 2018 11:26 pm

Don't worry folks, we're taking back control!
Raid wrote:
Thu Jan 28, 2021 2:24 pm
And that's the story of why I'm not allowed near pregnant women for the next few weeks.

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Re: High Streets Woes - part II

Post by Mantis » Fri Dec 28, 2018 2:37 pm

https://www.theguardian.com/business/20 ... nistration

HMV calls in KPMG after poor sales over the Christmas period.

I'm surprised that they've stuck around this long to be honest, highstreet sales of DVDs and Blu Rays are one of those things that are completely replaceable with simply ordering online; if you even bother to buy anymore when streaming is so prevalent and CDs are on the brink of extinction. HMV literally offer no reason to ever go into their stores, can't even remember the last time I bought something from them.

I read somewhere that a revival of vinyl sales had been a nice boost for them in recent years, so that's probably kept them ticking over, but it looks like people just didn't spend as much money over Christmas this year in all areas. I wonder why.

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Re: High Streets Woes - part II

Post by Drarok » Fri Dec 28, 2018 3:26 pm

I thought they'd gone under ages ago when our local one closed. I was in another town before Xmas and theirs was still open, which shocked me and the wife.

Not surprised they're in trouble.
Raid wrote:
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Re: High Streets Woes - part II

Post by Raid » Fri Dec 28, 2018 3:56 pm

I'm not sure what exactly they were hoping for; they may have closed a lot of stores last time (which I was amazed to find out was six years ago; it felt much more recent than that), but as far as I'm aware they've not altered their business model. Their primary product is overpriced physical media in an age where for the price of one DVD or CD you can stream as much as you want for a month. How many people would prefer to own 12 films over an entire year of entertainment?

I know there are limits to how far you can change your business model when you have thousands of employees to support, but this was always going to happen.

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Re: High Streets Woes - part II

Post by Wrathbone » Fri Dec 28, 2018 4:48 pm

They did nothing to help themselves. The last time I was in HMV was about a year ago with my dad. He’d found something he wanted and so we stood in a queue that didn’t move for five minutes because the one person serving was answering someone’s inane questions. Other staff were milling around rearranging shelves rather than reducing the growing queue. I found the DVD on Amazon (cheaper, of course) and ordered it before the queue advanced at all, chucked the DVD back on the shelf and left. Utterly useless shop.

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Re: High Streets Woes - part II

Post by Achtung Englander » Sat Dec 29, 2018 12:21 am

About 6 years ago I did an analysis on their P&L. Their COGS was 98%. Let me repeat that. For every £1 they sold it cost them 98p to buy that good. This is before operating cost like salaries, rent and utilities. No fucking wonder they are going bust.

I met the game buyers just last month in London and it has to be said they are some of the most helpful in supplying games data. Shame they are facing tough times. It must be a shitty way to enter the year especially with so much uncertainty in the market right now with Wall Street crashing and Brexit around the corner.

If you are in retail I would be shutting bricks at the moment. People are beginning to spend less. Expect a recession guys.
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Re: High Streets Woes - part II

Post by Mantis » Sat Dec 29, 2018 11:14 am

The next recession is going to be a lot messier than the previous one.

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Re: High Streets Woes - part II

Post by Achtung Englander » Sat Dec 29, 2018 2:53 pm

I do fear the worst. I would not be surprised if Brexit is axed if Wall Street crashes otherwise we will be committing economic suicide.
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Re: High Streets Woes - part II

Post by Achtung Englander » Tue Jan 15, 2019 1:02 pm

Today is the last day to save HMV

Also M&S to shutter more shops

https://www.bbc.co.uk/news/business-46876749
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Re: High Streets Woes - part II

Post by Achtung Englander » Mon Nov 04, 2019 2:49 pm

How can you fuck up Mothercare

Demand is always there

https://www.bbc.co.uk/news/business-50287153
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Re: High Streets Woes - part II

Post by Stormbringer » Mon Nov 04, 2019 3:02 pm

Amazon probably has everything they sell, but cheaper and more accessible.

There's only one Mothercare store in this city, and it's next to the AIRPORT, miles out of the city centre.
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Re: High Streets Woes - part II

Post by Medicine Man » Mon Nov 04, 2019 4:23 pm

I'm surprised they're still going tbh. I cant remember the last time I saw a Mothercare store. I'm not even sure we have one anymore. :-k

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