Bricks n Mortar retail apocalypse.

[gibbon]

On 07/04/2019 at 12:13, Ash4781b said:

Its not just the bricks- look at AO world plc. Also reading about ASOS tweaking return policies- youngsters playing the system almost ‘renting / trialing clothes lol 😂 

Back to the bricks and mortar Sainsbury’s Plc will need turning around. Really do not know what the management were thinking there buying Argos then going after Asda. I expect non food margins are collapsing and in the food side haemorrhaging customers to rivals. It appears they cannot abandon the Asda merger.

I thought buying Argos was a smart buy, flogging off their existing sites and moving them in-store, pushing more people into Sainsbury's stores. What's your reasoning for it being a bad move?

[spygirl]

 

On 07/04/2019 at 12:13, Ash4781b said:

Its not just the bricks- look at AO world plc. Also reading about ASOS tweaking return policies- youngsters playing the system almost ‘renting / trialing clothes lol 😂 

Back to the bricks and mortar Sainsbury’s Plc will need turning around. Really do not know what the management were thinking there buying Argos then going after Asda. I expect non food margins are collapsing and in the food side haemorrhaging customers to rivals. It appears they cannot abandon the Asda merger.

Dixons Carphone looks sick to - on mobiles side Sim only phone deals getting really cheap but handset prices sky high. Seem to be pushing insurance policies hard lol

Superdry Plc has had quite a public boardroom battle. It’ll make a good book / article.

There’s definitely a sense of a retail shakeout - the likes of Mike Ashley etc and old retailers returning after seeing their companies wrecked.

There's an entire  compnay, run by a moron connected to ASOS returns:

https://www.yorkshirepost.co.uk/news/analysis/the-inside-story-on-steve-parkin-s-lavish-leeds-penthouse-1-9138888

Posted it on here before

Pure tax credits EE scam play.

 

[sancho panza]

https://www.retailgazette.co.uk/blog/2019/05/uks-two-biggest-investment-firms-sales-take-hit-high-street-declines/

Two major property firms take sales hit amid high street decline

Two of the UK’s largest property development companies have suffered from the high street’s tough trading conditions as they’ve reported full-year losses and a drop in the value of their retail portfolio.

Landsec, which is the UK’s largest commercial property development and investment company, recorded widening full-year losses against a backdrop of what chief executive Robert Noel said was “well-publicised difficulties in the retail market”.

For the year ending March 31, Landsec posted a £123 million loss before tax in comparison with a pre-tax loss of £43 million the previous year, despite an 8.9 per cent rise in sales to £442 million.

Landsec operates shopping centres like Bluewater, Westgate Oxford and Trinity Leeds, and said it has delivered a “strong year operationally” despite the “backdrop of political gridlock and the well-publicised difficulties in the retail market”.

Noel added near-term improvement in retail market conditions wasn’t foreseeable, with CVAs expected to increase.

“Rental values are likely to decline further in shopping centres and retail parks, though we expect continued rental growth in outlets and select leisure destinations,” he said.

Meanwhile, British Land – which owns Meadowhall in Sheffield and various other retail precincts and out-of-town centres – reported a rise in rental growth, but portfolio value suffered.

The property giant said last year saw like-for-like rental growth of £15 million, “more than offsetting the £14 million impact of retail CVAs”.

However, its portfolio value fell by 4.8 per cent thanks to retail decreasing by 11.1 per cent.

“Retailers continue to face the challenge of fundamental structural change compounded this year by short-term operational headwinds,” British Land chief executive Chris Grigg said.

“As a result, we have seen further CVAs and administrations from troubled operators and, although faring better than the market overall, we have not been immune; the annualised rental impact from CVAs and administrations that have occurred over the last two years was £16.9 million including £900,000 at properties which have subsequently been sold,” he said.