|
|
Geoff’s View from Retirement |
| |
Posted At: 17 May 2012 17:00 PM
Related Categories: FSP News |
| |
You may have seen the FSP latest news that our Managing Director, Geoff Nicholson is retiring. It will be the end of an era, not least because his eponymous view has been the mainstay of SnapShop Monthly for many years.
Back in the old days, before websites and blogs, FSP issued a Retail Update to roundup the news and statistics for its key clients. With the birth of SnapShop it was recognised that not just our corporate clients were in need of some wise words; everyone wanted a knowledgeable interpretation of the latest retail topic. Geoff’s View was born.
I thought you would be very pleased to hear that Geoff is not just disappearing off into the sunset, with ne’er a care in the world, but will be devoting some of his precious time to penning more wise words for us. SnapShop Monthly will evolve, but the comment on the hot retail topics will still be sourced from one of the finest minds in retail property.
You can catch up on Geoff’s historical Views on the FSP site here
|
|
|
|
What to do in Brent Cross |
| |
Posted At: 14 May 2012 15:19 PM
Related Categories: Retailers, Social Commentary, Town & Shopping Centre Management |
| |
I might do a little bit of flag waving when the England team plays, and maybe a little bit of jumping up and down (at least metaphorically, if not physically) when the England team score a goal, but beyond that my interest in football is negligible on any scale. From this uneducated perspective, I am aware of two types in football; those that support Manchester United and those that don’t. However, whatever the type, fashionista is not a term universally applied to football supporters. Football strip is slippery, primary coloured and in the most part, unflattering. Quite frankly it looks good only on, well, athletic premiership footballers. And even then only when there really is nothing else to wear.
Arsenal supporters, who, by definition, are not Manchester United supporters, are presumably an untapped market of loose-walleted beings completely oblivious to the sartorial inelegance of the red and white kit. The club knows its market and is eager to please, relieving its fan-base of a little more cash in the process. In case you missed it, Arsenal Football Club has announced it is to open its first flagship store in a major retail location after securing a 2,270 sq ft first floor unit at Brent Cross Shopping Centre.
According to Retail Week, the shop has been benchmarked against sports brands to produce trendy merchandise. In red and white presumably? Narrows the market a little!
However, Brent Cross is, according to the Arsenal press statement, located in a traditional heartland of Arsenal support. Phew! Fortunately, Brent Cross has a substantial amount more to offer those who prefer their trendy merchandise in a delicate shade of blue or green.
|
|
|
|
At the top... |
| |
Posted At: 23 April 2012 16:47 PM
Related Categories: And Finally |
| |
In a recent poll of the nation’s favourite retailer, who came top?
Not, as you might have thought, and as was the case last year, John Lewis (bronze medal this year).
Our favourite, according to the Verdict poll, is Ikea. Not that surprising really when you realise that, despite the do-it-yourself aspect to Ikea purchases (in store, as well as once you’re home), their 9,500 products offer style at a reasonable cost, whilst, for the environmentally conscious, the company has sustainability at its heart.
So, having got over the fact that John Lewis has been toppled by Ikea, prepare for a double whammy. Second to Ikea and ahead of John Lewis is….. Bonmarché
Curious.
Bonmarché, on its website, defines its own limited market “Bonmarché is the UK's largest value retailer selling affordable quality womenswear in a wide range of sizes (12-24) to women over 45 years”
Of course, these days, having been bought out of administration by the omnipresent private equity company Sun European, it’s no longer quite so large. But just what was the demographic of the 6,000 shoppers in the Verdict survey to produce such a result?
The annual poll of 6,000 consumers looks at the retailers (online, as well as in-store) who provide what the customer wants, as well as service, quality, a wide range and good value. There may be many more retailers around, with a much greater reach, but they’re obviously not keeping their customers quite as satisfied as Bonmarché. Either that or the surveyed 6,000 are mostly more mature, curvier and thrifty women!
|
|
|
|
And Finally - Tommy & Kate |
| |
Posted At: 22 February 2012 13:00 PM
Related Categories: And Finally, General, Social Commentary |
| |
SnapShop hears that Tommy Hilfiger, the upmarket American brand, is attempting to secure increased sales through its British stockists with the lure of a trip to New York. This is a bonus in the true sense of the word; something extra, which can’t be earned just by doing your normal job.
However, we wonder how successful the sales will be, in the face of stiff competition from all the bright young things currently being paraded at London Fashion Week. Add to that the Duchess Effect, currently being felt by Orla Kiely, Whistles and Hobbs, and the indies such as Choice, Fallen Hero and Accent which stock the Hilfiger brand are going to have to go some to be the winning store, achieving the highest sell-through above 65%.
Then again, the beautiful Duchess would make tea cosies fly off the shelves if she wore one as a fashion accessory. The rest of us mere mortals should not assume the effect will rub off if the outfit’s the same. So, where’s my nearest Hilfiger stockist?
|
|
|
|
Welcome to the Madhouse |
| |
Posted At: 08 February 2012 17:33 PM
Related Categories: Administrations, Retailers |
| |
Stocking brands like Calvin Klein, Nike and Lee Cooper at discount prices one might assume Madhouse would work well in the current climate, but their past has been anything but rosy; think rocky and you’re on the right track.
If you look back over just the last couple of years, it is not hard to spot the in-out in-out administration pattern
The original company, Cromwell’s Madhouse, had already fallen into liquidation in the summer of 2007, then 56 stores were saved from closing in February 2009 by Deluxe retail
And to top it all Madhouse fell into administration at the beginning of February and it was announced on Tuesday of this week they had been saved by an unknown! (in phoenix pre-pack style, SnapShop suspects the current owners)
Other big names doing the Administration Hokey Cokey include
Adams Kids
Au Naturale
Envy
Ethel Austin
Floors 2 Go
Officers Club
Past Times
Puccinos
To ensure our customers are kept up to date with all retailer status changes, we at SnapShop have created a nifty device called Alerts, enabling you to keep your eye on all new and expanding retailers, as well as administrations. To learn more, why not take a look at the Demo or speak to one of our friendly team
|
|
|
|
And finally - how to win friends, influence people and steal the market share |
| |
Posted At: 25 January 2012 16:48 PM
Related Categories: And Finally, Retail, Retailers |
| |
McDonalds, the bane of many parents’ lives, is sharpening its image. Having masqueraded under the guise of a restaurant* for some time, it is now being informative – calorie count on the menu (really, it’s best not to look) – and educational. With an initiative allegedly aimed at increasing literacy and creativity amongst children, McDonalds will be including the Mudpuddle Farm series of books from acclaimed author Michael Morpurgo, in with their Happy Meal.
This initiative is likely to see McDonalds give away 9 million books over the four week period. With sales of children’s books averaging around six and a half million over the same timeframe, McDonalds will, for a very short time, become the biggest retailer of children’s books
Undoubtedly, the fact that Morpurgo is also the author of Warhorse is completely lost on the marketing chaps at McDonalds, and their intentions are singularly altruistic, but we at SnapShop nevertheless give this the thumbs up for feeding the little ones’ minds.
*Although there is no mention of knife and fork in the dictionary definition, the origin of the word is “food that restores”. Hmmmm!
|
|
|
|
Christmas Sales Commentary |
| |
Posted At: 24 January 2012 14:56 PM
Related Categories: Christmas, E-tailing, Retailers |
| |
|
The retail story of 2011/12 Christmas is less about sales and more about survival. Sales generally were better than in snow-struck ’10/11 but the number of retailers going into administration has been the highest since the ‘08/09 crisis. Few of the failures have been a surprise and sadly there is still a queue of struggling retailers.
The hard work and ingenuity of retailers maintained sales over Christmas but at the cost, at least in some cases, of squeezed margins. Financing the investment in the new technology that is driving market development and growth is challenging for all retailers, but especially for those struggling to service their existing debt. The threat of pure on-line to physical retailing is turning out to be less than envisaged a few years ago. On the other hand, the importance of all retailers having an effective on-line offering becomes ever more apparent.
Meanwhile, the knock-on effect on retail locations is still unclear. Retailing will continue to thrive beyond the 30 to 50 UK locations of interest to global retailers but its format and nature are not yet clear. That ultimately will be driven by the nature and scale of local demand. The challenge for asset managers is to be able to identify which of their occupiers is at risk, either corporately or because the rent to turnover ratio is unsustainable. Knowledge is indeed power and using that power effectively will mark out the best managers.
To access fully analysed Profit and Loss information including Financial Health indicators, along with downloadable officially filed company accounts and for regular updates on weekly, monthly, quarterly, half yearly and full year results, including total and like for like £ and % sales results, please subscribe to SnapShop
|
|
|
|
Retail Spotlight – Peacocks calls in the administrators |
| |
Posted At: 19 January 2012 15:34 PM
Related Categories: Administrations, Retailers, Social Commentary |
| |
Despite reporting a like-for-like sales increase of 17% over the Christmas period, Peacocks’ problems ran much deeper – after months of struggle, Peacocks calls in the administrators making it the biggest retailer to collapse.
19/01/2012 – Peacocks collapsed into administration putting over 9,600 jobs at risk. Joint administrators from KPMG are trading the company while they look for a buyer. The Bonmarché business, which employs approximately 3,800 staff, has not entered administration and continues to trade
17/01/2012- Peacocks boss attempted to put together an eleventh hour rescue deal to save the retailer as the company's advisers filed a notice of intention to appoint an administrator, after talks to restructure £240m of debt failed
09/12/2011 – Peacocks was considering closing up to 200 stores, as it was seeking to reduce its debt burden
28/11/2011 - Goldman Sachs was in talks to take control of the chain and was in discussions to become the majority shareholder as part of plans to reduce Peacocks’ £240m debt pile
19/09/2011 - Peacock lenders appointed KPMG to conduct an independent review of the business
28/04/2011 - Allan Leighton was in talks to become Chairman of Peacocks, for a potential sale or flotation
18/04/2011 - Fast fashion chain launched a higher-priced collection of catwalk-inspired clothing with retail prices between £35 and £38
01/10/2010 - Peacocks cancelled plans for a sale as it failed to attract what it considered to be acceptable offers
31/08/2010 - Peacocks hired Goldman Sachs, and was looking at selling the chain for an estimated £500m-£600m, or refinancing the business
18/06/2010 - Chief executive Richard Kirk confirmed that a strategic review of the business has begun that is likely to result in the sale of the value fashion chain
26/04/2010 – Owners were considering a sale or refinancing of the value retail group
20/04/2010 – Value retailer relaunched its website
11/01/2010 – Retailer reported cracking Christmas, like-for-like sales rose 8% in the eight weeks to January 2, with a 17% spike in December and early January. Total sales over Christmas rose 13%
16/12/2009 - Peacocks has taken a 10-year lease for 7,800 sq ft at £25 per sq ft at Newbury Retail Park in Newbury
4/11/2009 - Peacocks took 7,000 sq ft shop at Thornfield’s 1.6m sq ft The Rock scheme in Bury, Greater Manchester
9/01/2009 - Peacocks outlined plans to buy up to 50 shops from failed competitors
Financial Health:
Key:
P2>175 – Very Strong
P2 >150 and <175 - Healthy
P2>125 and <150 – Fairly Healthy
P2>100 and <125 – Head Above Water
P2<100 – Very Worrying
SnapShop subscribers can find more information like store numbers, quarterly and annual sales and latest news on the Peacocks Group and Bonmarché here.
Elsewhere on the high street, Pumpkin Patch UK arm went into administration while Primark’s sales surged over Christmas, ASOS reported strong Christmas trading, Q4 sales jump at ebay. For more up to date news on retail administrations, new retailers and expanding retailers, please subscribe to SnapShop with membership starting from only £96 pa.
|
|
|
|
Retail Spotlight – Pumpkin Patch UK subsidiary goes into administration |
| |
Posted At: 19 January 2012 15:23 PM
Related Categories: Administrations, Retail, Retailers, Store Closures |
| |
Following the announcement of collapse of children’s store Pumpkin Patch in the UK; we bring to you an overview of the retailer’s financial performance over the years and highlights of the latest news
19/01/2012 - Pumpkin Patch has called in administrators on its UK subsidiary, this does not affect any other of the group's companies. Retailer said current economic environment in the UK and in wider Europe is extremely difficult. It’s website and social media channels have not been updated with this information
28/09/2011 - The CEO resigned after the company swung to a full-year loss, which it blamed on soaring cotton prices, soft trading conditions, and the impact of natural disasters in the region
11/02/2011 - The results of the company for the year ended 31 July 2010 showed a pre-tax profit before non-recurring items of £1,872,183 for the year and sales of £24,993,241. During the year retailer opened 3 new stores and had expected to open 3 new stores in 2011
8/07/2010 – For the year ended 31 July 2009, the results for the company show a pre-tax loss before non-recurring items of £4,842 (2008 loss of £277,892) for the year and sales of £24,076,404 (2008 £23,731,916).
Financial Health:
Key:
P2>175 – Very Strong
P2 >150 and <175 - Healthy
P2>125 and <150 – Fairly Healthy
P2>100 and <125 – Head Above Water
P2<100 – Very Worrying
To keep a tab on these retail administrations and financial health of over 2000 retailers, please subscribe to SnapShop with membership starting from only £96 pa.
|
|
|
|
All White |
| |
Posted At: 17 January 2012 15:50 PM
Related Categories: Retail, Retailers |
| |
Peacocks, on the verge of administration, would be the biggest failure since the Woolworths collapse of 2008, which preceded a Christmas of Horrors for a host of retailers. This year is showing similar tendencies, but with all around them failing, or at least flailing, White Stuff has a reason to smile.
Accounts filed in December for the year to April 2011, show White Stuff continues its trend of not only increasing sales, but increasing profits too.
This headline information is supported by FSP accounts analysis, which shows strong financial health ratios just getting stronger. The best retailers know, however well you’re doing, there is no time to sit back on your laurels. The directors of White Stuff are fully aware and “remain cautious”.
Sally Bailey at the helm, recognises a dual focus which works: happy customers and happy staff. “We continued to focus our efforts into making our customers happy”, she said, whilst the company had improved its ranking in the Times Top 100 Best Companies to Work For last year. We at SnapShop like that. Meanwhile, White Stuff is capitalising on eCommerce and cross-channel selling, as well as the launch of the large format Emporium store and a dipping of toes into the international pond.
Who would have thought the Boys from the White Stuff could pull off such a coup on the High Street?!
|
|
|
|
|