The Retail Apocalypse (Incorporating Casual Dining Closures)

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Vermilion
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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by Vermilion » Thu Sep 10, 2020 2:40 pm

Sandy wrote:
Vermilion wrote:
Sandy wrote:Coffee is dirt


It sure is, the stuff is so horrid i'd rather have a cup of hot mud.


You're a monster.


:nod:

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Moggy
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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by Moggy » Thu Sep 10, 2020 3:07 pm

Sandy wrote:
Vermilion wrote:
Sandy wrote:Coffee is dirt


It sure is, the stuff is so horrid i'd rather have a cup of hot mud.


You're a monster.


But he's not wrong.

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KK
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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by KK » Thu Sep 10, 2020 3:34 pm

I'd love to know the type of person that has a cup of PG Tips delivered from McDonald's via Uber Eats.

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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by KK » Thu Sep 17, 2020 11:07 am

BBC News wrote:John Lewis has confirmed that staff will not receive a bonus for the first time since 1953 after it was hit by lockdown store closures.

The retailer - which also owns Waitrose - posted a huge £635m pre-tax loss for the six months to 25 July after higher costs offset a 1% rise in sales.

Its chairwoman told staff on Thursday the announcement "will come as a blow".

Even before Covid-19 hit, the chain had warned it might not pay the usual staff bonus as competition ate into profits.

The group's first-half loss was £635m once exceptional items were taken into account, including a £470m write-down in the value of its stores.

Excluding those one-off costs, the group's loss in those six months stood at £55m.

The last time that the chain, which operates as a partnership, decided not to pay a bonus to its staff was in the aftermath of World War Two.

Chairwoman Dame Sharon White said: "We came through then to be even stronger and we will do so again."

She added: "I know this will come as a blow to partners who have worked so hard this year. The decision in no way detracts from the commitment and dedication that you have shown."

The payment of bonuses will only resume once annual profits rise to above £150m and debt falls, she said.

The retailer said store closures during lockdown and customers buying less profitable items, such as toilet paper or laptops, had hit trade.

It estimated that in its first half, John Lewis shops saw a £200m drop in sales, while the wider group saw additional coronavirus-related costs total about £50m.

But in a statement, it said that its Waitrose supermarkets had seen "a return to the weekly shop", with like-for-like sales up 10% year-on-year.

https://www.bbc.co.uk/news/business-54187674

Fact: there's more profit on a bog roll than a budget laptop.

(I may have made that up)

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Lex-Man
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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by Lex-Man » Thu Sep 17, 2020 11:09 am

When I worked at Weatherspoons our most profitable item was Pepsi we made more money selling a pint of that than a bottle of Champagne.

That said I would say that John Lewis has lost money selling me Laptops in all likelyhood.

Amusement under late capitalism is the prolongation of work.
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Lotus
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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by Lotus » Thu Sep 17, 2020 11:13 am

Things really seem to have gone tits-up at John Lewis since that new chairwoman took over. Always thought they were one of the more stable companies.

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Lex-Man
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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by Lex-Man » Thu Sep 17, 2020 11:18 am

They've been doing quite badly for a while now it's actually a testament to how well run they actually are that they aren't circling the drain at the moment like Debenhams or House of Fraiser.

Amusement under late capitalism is the prolongation of work.
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Jenuall
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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by Jenuall » Thu Sep 17, 2020 11:22 am

Said it before in here but John Lewis' mistake was going back on their plan ~10 years ago to stop expansion. They originally stated that they were going to stop investing in setting up new, large stores as they were costly and the numbers didn't add up - large footprint retail was already showing the signs of losing its place in the market.

But in the last ten years they have opened big expensive stores in places like Cheltenham, Exeter, Chelmsford, Leeds, Oxford, York and Birmingham - as well as I think two additional stores in London. Most of these just do not make the money to justify their place.

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Lagamorph
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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by Lagamorph » Thu Sep 17, 2020 11:44 am

The profit margin on laptops is generally wafer thin.
Back when I worked at PC World the margin on even higher end laptops was under £30 at times, and probably less than a tenner on some budget ones. Same thing on TVs.
That's why they push accessories like bags, cables, mice and Insurances so much, because that's where the Profit margin is.

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That's not a growth
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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by That's not a growth » Thu Sep 17, 2020 11:45 am

I think part of the problem is large stores are currently part of their brand image, and it doesn't feel like they've done much too try to transition away from this perception - so just stuck with it rather than change course.

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KK
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PostRe: The Retail Apocalypse (Incorporating Casual Dining Closures)
by KK » Thu Sep 17, 2020 12:07 pm

The quality of the store experience and customer service is what separates them from everyone else. Online, they’re just another retailer. And that’s a dangerous place for them to be.

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