John Lewis - Never Knowingly Having Retail Experience.

[Panther]

9 minutes ago, steppensheep said:

I've noticed in my recent travels that loads of town centres still have a closed down, vacant, Debenhams in them. Seems pretty weird that they haven't been relet yet, especially as many places seem to be booming and untenanted sites are pretty rare. In particular I saw Nottingham central square has a depressing looking closed store which in an absolutely prime location that retailers should be scrambling for.

Maybe nobody wants them, why would you, particularly in the sort of shopping centre crammed into backland in the 80s.

[Option5]

11 minutes ago, Funn3r said:

Brilliant really, can't decide if the counciltaxpayer is being done or not, as they did sort of get 5M out of it.

1.6 mullion.

[Funn3r]

2 minutes ago, Panther said:

Maybe nobody wants them, why would you, particularly in the sort of shopping centre crammed into backland in the 80s.

I never really understood Debenhams as it seemed full of stuff which was neither cheap nor expensive and had no appeal, to me. I think their market got taken by Primark who were better at profiling which tat people would buy, and more glitzy about it than the staid Debenhams and BHS.

Went to a Primark shop recently and honestly thought they have lost their touch. Absolute junk quality and prices well up. 

[Panther]

11 minutes ago, Funn3r said:

I never really understood Debenhams as it seemed full of stuff which was neither cheap nor expensive and had no appeal, to me.

A lot of Debenhams stuff seemed own brand and quite unappealing, Matalan level. The only thing I remember about BHS was lighting, otherwise Matalan again.

[Option5]

51 minutes ago, steppensheep said:

I was going to revive the Debenhams thread, but may as well mention it here. I've noticed in my recent travels that loads of town centres still have a closed down, vacant, Debenhams in them. Seems pretty weird that they haven't been relet yet, especially as many places seem to be booming and untenanted sites are pretty rare. In particular I saw Nottingham central square has a depressing looking closed store which in an absolutely prime location that retailers should be scrambling for.

 

I assume it is something to do with the financial side. Maybe the landlords can't relet them until they've screwed every last penny out of the administrators?

Large city centre stores are dead. Online is the future (actually present), especially as cars are being taxed out of the city centres.

A large store where people can look at and try big ticket items but where the items are delivered from a large logistic centre is the only way to go.

Small, easy to carry items (make-up, small clothing items, underwear etc) could be stocked and sold on site. Everything big and heavy (furniture, electrical goods, kitchenware etc) would be pay here and we'll  deliver later today or tomorrow will become the norm.

Retail as a service industry.

People already browse in the high street then actually buy online.

Ikea have operated under this model for years.

[Option5]

1 hour ago, Panther said:

A lot of Debenhams stuff seemed own brand and quite unappealing, Matalan level. The only thing I remember about BHS was lighting, otherwise Matalan again.

Debenhams was more like a market than a store, lots of stalls, sorry franchises, selling tat and competing with each other. Debenhams rented out serviced floorspace, that's  all.

A lot of the franchiseed companies went bust leaving empty floorspace that had to be filled, hence the drop in quality as it had to be done on the cheap and quickly.

[Imp]

1 hour ago, Option5 said:

 

A large store where people can look at and try big ticket items but where the items are delivered from a large logistic centre is the only way to go.

I think there is a model where manufacturers pay a shop to have their product on display to be looked at and tried by customers, with a QR Code or something so the customer can then order it from whichever online retailer sells it cheapest/quickest/greenest. If they can get the contracts set up with the manufacturers it would be quite low risk for the people who set up the shops.

[Option5]

3 minutes ago, Imp said:

I think there is a model where manufacturers pay a shop to have their product on display to be looked at and tried by customers, with a QR Code or something so the customer can then order it from whichever online retailer sells it cheapest/quickest/greenest. If they can get the contracts set up with the manufacturers it would be quite low risk for the people who set up the shops.

Also money to be made on product location inside the store. A bidding process for the best spots. 

[Bedrag Justesen]

1 hour ago, Imp said:

I think there is a model where manufacturers pay a shop to have their product on display to be looked at and tried by customers, with a QR Code or something so the customer can then order it from whichever online retailer sells it cheapest/quickest/greenest. 

This already exists.

It is called Currys.

[sarahbell]

3 minutes ago, Bedrag Justesen said:

This already exists.

It is called Currys.

I wish I could give this more upticks.

[SNACR]

8 hours ago, Bornagain said:

I am no financial genius but it looks stupid to me, have I missed something ?

Yes, the thing I’ve been telling you for pages now.

[Option5]

7 minutes ago, SNACR said:

Yes, the thing I’ve been telling you for pages now.

Bit harsh 

[Phil]

5 hours ago, Funn3r said:

I never really understood Debenhams as it seemed full of stuff which was neither cheap nor expensive and had no appeal, to me. I think their market got taken by Primark who were better at profiling which tat people would buy, and more glitzy about it than the staid Debenhams and BHS.

Went to a Primark shop recently and honestly thought they have lost their touch. Absolute junk quality and prices well up. 

Them kids and mrs’s who make the stuff must not give a fuck about keeping Sharron well clothed. That , or the consumer is consumed out. Bought granddaughter a voucher for primark yesterday so at least the landfill lads will be happy. ( bit sexist but who really cares). 

[sarahbell]

Just now, Phil said:

Them kids and mrs’s who make the stuff must not give a fuck about keeping Sharron well clothed. That , or the consumer is consumed out. Bought granddaughter a voucher for primark yesterday so at least the landfill lads will be happy. ( bit sexist but who really cares). 

I've got a few bits primark stuff. Some t-shirts and pants. It wears well. 

[Phil]

Just now, sarahbell said:

I've got a few bits primark stuff. Some t-shirts and pants. It wears well. 

She started to get into that over priced JD sports stuff. Primark is primark for all its child slavery, Mrs on sowing machine type problems. Why not take advantage. It serves all needs. I have no problem with it. The girl who sold on the till was very helpful and lively, which is what I want as part of the experience of buying. 

[Funn3r]

13 minutes ago, sarahbell said:

I've got a few bits primark stuff. Some t-shirts and pants. It wears well. 

Well you say so and I would have agreed with you not very long ago at all. 

In the summer I bought some ordinary grey jogging bottom trousers to wear round the house. Average quality, nothing special, six quid. Really comfortable so went back for a spare pair but not got any. Several similar products (camo versions and such) and nearest grey ones were now nine pounds. Bought them but when tried on at home awful fit and thin material. 

Returned them and had to spend 16 on some decent branded ones at TK Maxx. But Primark should excel at that sort of thing it is their bread and butter.

[dgul]

9 hours ago, spygirl said:

Genius.

Does anyone in JL actually know what they are doing?

John Lewis pays £5m after closing store 10 months into 20-year lease

John Lewis has agreed to pay £5m for closing its Sheffield city centre department store just 10 months in to a 20-year lease

https://www.yorkshirepost.co.uk/business/john-lewis-pays-ps5m-after-closing-store-10-months-into-20-year-lease-3487281?fbclid=IwAR22pQCsWggtM9ksY2XV0C4XjwvvLRKJbJny4juaIUGTL638fhOajcyR2CA

Jubilant council chiefs say the cash will be used ’towards the future redevelopment of the site’.

But investigations into the cost of repairing the dilapidated building are ongoing - with some speculating it could be more than £10m.

The deal ends a 20-year saga which saw Sheffield City Council ‘bending over backwards’ to get the company to stay and be part of city centre regeneration plans.

It culminated in the authority buying the building from the firm for £3.4m last summer and renting it back on a 20-year lease for peanuts.

John Lewis then stunned the city when it announced it would close the store in June this year with the loss of 299 jobs.

The firm said it was one of eight it ‘could not profitably sustain’ after losing more than £500m last year. It has since returned to profit.

Negotiations over breaking the lease in Sheffield have now concluded.

Coun Mazher Iqbal, executive member for city futures, development, culture and regeneration, said it meant the authority had full ownership of the building and the agreement came ‘with no cost impact to the city’.

But he added investigations into the cost of repairs were ongoing.

“It is an anchor site within the Heart of the City masterplan, with so much potential and the council is 100 percent committed to creating something special that the city can be proud of.

 

 

 

“Earlier this year, we instructed sector experts Fourth Street, Queensberry and Arup, to start to examine the condition of the building, as well analyse the costs, market interest and sustainability of all of the available options.

“In the new year we’ll be launching a consultation to find out what the people of Sheffield think about the future of this important site in the city centre and what they’d like to see.

“There have been some really exciting developments on Heart of the City this year, we’re really seeing it take shape now, the vision coming together, and there’s more to come in 2022 – it’s a great time to be living, working in and visiting Sheffield.”

Last month, The Star revealed a major sports brand wants to open a £100m footballing experience in the building, with pitches on the roof.

 

 

 

The John Lewis site sits in the centre of the council’s £470m taxpayer-funded Heart of the City redevelopment which the authority says is ‘forging ahead’.

A report to the council’s Co-operative Executive committee on December 15 says it is set to complete in 2023.

‘About half' of the apartments in Burgess House on Pinstone Street have been sold. It is set to open in February.

Building work continues on a new Radisson Blu hotel, also on Pinstone Street, and a revamp of the old Embrace nightclub.

 

 

 

A ‘deal is also close’ for the space underneath Telephone House. Set to open in spring, campaigners have long hoped it will be a secure bike hub.

On Cambridge STreet, tenants have already signed up for a food hall and Leah’s Yard, which will be a hub for creative businesses and independent retailers. They are set to open in 2023.

 

None of the entities involved in this deal come out looking good.

[sarahbell]

1 minute ago, dgul said:

None of the entities involved in this deal come out looking good.

I'd want to know who wasn't giving them legal advice.

[Option5]

Mrs O5 likes primark because their XSS and size 4 fit her, unlike the mainsteam stores who appear to have changed their sizing to make fat birds feel good.

[Phil]

29 minutes ago, Option5 said:

Mrs O5 likes primark because their XSS and size 4 fit her, unlike the mainsteam stores who appear to have changed their sizing to make fat birds feel good.

Sounds like at a 4 she needs pie and pies with gravy on a regular basis.

[Option5]

1 minute ago, Phil said:

Sounds like at a 4 she needs pie and pies with gravy on a regular basis.

We're  both scale models of real human beings. 

[Phil]

4 minutes ago, Option5 said:

We're  both scale models of real human beings. 

Fare call.

[spygirl]

I thought wed done this woman - 

https://www.retailgazette.co.uk/blog/2018/03/conviviality-ceo-diana-hunter-steps-amid-financial-turmoil/

Ex JL/Waitorse.

Massive massive fuckup.

Regulator fines KPMG £3m for audit failings at collapsed retailer

Penalty for Conviviality work is second set of sanctions against accountancy firm in as many days

https://www.ft.com/content/c41f13e9-79cc-4779-bd91-9e77f966f940

 

https://www.theguardian.com/business/2018/apr/05/conviviality-administration-bargain-booze-wine-rack-owner-acquisitions

A story about Conviviality’s former chief executive Diana Hunter may offer some insight. According to a newspaper interview with Hunter, whose early career included stints at Sainsbury’s and Waitrose, she liked to use her Porsche Cayenne as a “mobile office”, with a printer on the back seat that allowed her to print out takeover agreements and sign them on the go.

 

 

[Frank Hovis]

3 minutes ago, spygirl said:

I thought wed done this woman - 

https://www.retailgazette.co.uk/blog/2018/03/conviviality-ceo-diana-hunter-steps-amid-financial-turmoil/

Ex JL/Waitorse.

Massive massive fuckup.

Regulator fines KPMG £3m for audit failings at collapsed retailer

Penalty for Conviviality work is second set of sanctions against accountancy firm in as many days

https://www.ft.com/content/c41f13e9-79cc-4779-bd91-9e77f966f940

 

https://www.theguardian.com/business/2018/apr/05/conviviality-administration-bargain-booze-wine-rack-owner-acquisitions

A story about Conviviality’s former chief executive Diana Hunter may offer some insight. According to a newspaper interview with Hunter, whose early career included stints at Sainsbury’s and Waitrose, she liked to use her Porsche Cayenne as a “mobile office”, with a printer on the back seat that allowed her to print out takeover agreements and sign them on the go.

 

 

 

Any company that grows like that or does unfeasibly well, especially with a maverick self-publicist CEO, raises my auditor hackles.

If it seems too good to be true it usually is.

 

Going back to the mid 90s Independent Insurance under "Brighty" was getting great results whilst the rest of the insurance market was struggling; this was a discussion subject in City pubs where the general consensus was that he was up to something as the results could not possibly be that good.

They weren't:

Michael Bright, the former boss of Independent Insurance, was sentenced to seven years in prison yesterday for his part in the fraud that caused the company's collapse.

In sentencing Bright, Judge Geoffrey Rivlin described him as "undoubtedly the architect, the driving force behind the fraud" that hid losses at the insurer.

[Bilbo]

No hope. From today's Telegraph.

Waitrose prices are rising three times faster than other supermarkets

As inflation drives up grocery bills, study finds some retailers are not holding back in passing on increasing costs on to shoppers

ByGurpreet Narwan, CONSUMER AFFAIRS EDITOR19 January 2022 • 6:00am

Grocery prices at Waitrose have risen more than three times faster than at other supermarkets, according to a report by Which?

The consumer group tracked hundreds of thousands of grocery prices at Britain’s major supermarkets and found that a basket of goods at Waitrose rose by 9.2 per cent last year.

This was much higher than the 3 per cent average increase across all eight supermarkets monitored by Which? The cheapest supermarkets, Lidl and Aldi, increased their prices by 5.13 per cent and 4.32 per cent over the same period.

Sainsbury's managed to keep a lid on its prices, raising them by just 0.59 per cent. Tesco increased its prices by 0.89 per cent and Ocado lifted them by 1.62 per cent.

Which? found that a basket of 22 typical items would have set consumers back by £32.85 in December. This is more than £9 dearer than Lidl, where a similar basket cost £23.29. 

Waitrose was consistently the most expensive supermarket across the year, with a basket of everyday items costing between £6 to £10 more each month.

Lidl was the cheapest supermarket last month, just beating Aldi, where the average basket cost £23.64 in December. Overall Aldi was the cheapest supermarket for six of the 12 months while Lidl was the cheapest for five. 

However, the report noted that even prices at Aldi and Lidl rose between January and December last year and in both cases at more than the average rate.

Inflation hits monthly grocery bills

A separate report published recently by the data company Kantar found that grocery price inflation reached 3.5 per cent in the four weeks to December 26, which equates to an extra £15 on shoppers' average monthly grocery bill.

Grocery prices are expected to rise even more sharply this year as rampant inflation drives up the cost of living for households across the country. 

Businesses across the economy are already passing on rising costs to consumers in the form of higher prices but the latest findings suggest that some are more concerned about squeezing household budgets than others.

Ele Clark, retail editor at Which?, said: “No one wants to overpay for basic groceries, especially when a cost of living crunch is putting extra pressure on household budgets.”

“Our findings show that while prices are going up, some supermarkets are passing their rising costs onto shoppers more than others. 

“As well as choosing a supermarket that is cheap overall, other ways to save include swapping from branded to own-brand products, sticking to a shopping list and resisting the temptation to pick up special offers you don’t need.”

The Which? basket of goods included a mixture of branded items, such as Kenco coffee, Oxo stock cubes and PG Tips tea bags, as well as own label products. 

Researchers found that some own-brand product categories rose sharply across all supermarkets. Royal Gala apples rose the fastest, with prices climbing by 14 per cent. 

This was followed by free-range eggs at 12 per cent and brown onions at 11 per cent. Skimmed milk was up 10 per cent and semi-skimmed milk up 9 per cent.

A Waitrose spokesperson said: "We're working hard to deliver great value, offering ethically sourced, great quality products at fair prices along with excellent service from our partners."

The analysis included Waitrose, Sainsbury’s, Tesco, Aldi, Lidl, Asda, Ocado and Morrisons.