Follow @PoliticsIE
 
 
 
Page 1 of 17 1234511 ... LastLast
Results 1 to 10 of 167

Thread: Retailers struggling?

  1. #1
    Politics.ie Newbie
    Join Date
    Feb 2003
    Posts
    9
    Mentioned
    0 Post(s)

    Default Retailers struggling?

    I've heard from a few different places that big retailers are struggling, people just arent spending like they have in previous years. A quick look at the ads in the newspapers seems to support it. Most big retailers are massively discounting, for long periods to get shoppers in. They have probably ordered in a lot of stock for Christmas, and cant get rid of it, so are slashing profit margins so they wont be stuck with lots of unsold stock.

    Arnotts for example has had 20% off sales (on nearly everything) over the past few weeks, the first time its ever happened before Christmas apparently. Their sales figures where down quite a bit due to increased competition, and people being more cautious with their spending.

    Has anyone else noticed this?

  2. #2
    Politics.ie Member
    Join Date
    Dec 2004
    Posts
    12,595
    Mentioned
    0 Post(s)

    Default

    People are spending their dosh in New York.
    Not me, but a lot of people have jetted over. Its bound to have an effect.

  3. #3
    Politics.ie Member
    Join Date
    May 2007
    Location
    Cork South Central - Cork SE LEA
    Posts
    2,933
    Mentioned
    0 Post(s)

    Default

    I saw a whole section of games in Debenhams that were on sale at half price. A bit strange this far before Christmas. Still, I picked one up for the brother-in-law.
    Economic Left/Right: -2.88 (down 3.63 since the financial crash)
    Social Libertarian/Authoritarian: -5.18

  4. #4
    Politics.ie Member
    Join Date
    Oct 2005
    Location
    KERRY
    Posts
    1,525
    Mentioned
    0 Post(s)

    Default

    Well Arnott's and other department store type retailer sales can be put down directly down the people travelling to the US and across the border to avail of the weak $ and . But there has been a more general fall of. I have seen footfall data which showed a 3% fall in shoppers in November and of course the VAT revenue did suddenly take a sharp downturn in the November revenue returns which would reflect slower spending in the September/October period. PS expect large redundancies in the department store retailers in the new year after the sales. Debenhams at Manor in Tralee laid of 30 a few months ago and they have had a number of sales since seemingly to no avail. Redundancies on that scale in the retail sector are pretty well unheard of these days.

  5. #5
    Politics.ie Newbie
    Join Date
    Feb 2003
    Posts
    9
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by kerrynorth
    Well Arnott's and other department store type retailer sales can be put down directly down the people travelling to the US and across the border to avail of the weak $ and . But there has been a more general fall of. I have seen footfall data which showed a 3% fall in shoppers in November and of course the VAT revenue did suddenly take a sharp downturn in the November revenue returns which would reflect slower spending in the September/October period.
    It would be interesting to find out if people are just spending less overall, or if they are spending it elsewhere. Are higher interest rates biting? Or are we unconsiously collectively preparing for a downturn by increasing our cash reserves?

  6. #6
    Politics.ie Member
    Join Date
    May 2005
    Posts
    1,961
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by andrew
    Quote Originally Posted by kerrynorth
    Well Arnott's and other department store type retailer sales can be put down directly down the people travelling to the US and across the border to avail of the weak $ and . But there has been a more general fall of. I have seen footfall data which showed a 3% fall in shoppers in November and of course the VAT revenue did suddenly take a sharp downturn in the November revenue returns which would reflect slower spending in the September/October period.
    It would be interesting to find out if people are just spending less overall, or if they are spending it elsewhere. Are higher interest rates biting? Or are we unconsiously collectively preparing for a downturn by increasing our cash reserves?
    I have spend about 66% less than I did last christmas. I'm smashed.
    Told the kids not to expect too much.
    A major reigning in of expendidture in my household and I would consider myself to be the basic Joe Bloggs in financial terms.

  7. #7
    Politics.ie Member
    Join Date
    Oct 2005
    Location
    KERRY
    Posts
    1,525
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by andrew
    Quote Originally Posted by kerrynorth
    Well Arnott's and other department store type retailer sales can be put down directly down the people travelling to the US and across the border to avail of the weak $ and . But there has been a more general fall of. I have seen footfall data which showed a 3% fall in shoppers in November and of course the VAT revenue did suddenly take a sharp downturn in the November revenue returns which would reflect slower spending in the September/October period.
    It would be interesting to find out if people are just spending less overall, or if they are spending it elsewhere. Are higher interest rates biting? Or are we unconsiously collectively preparing for a downturn by increasing our cash reserves?
    Its basically a combination of the strong Euro to the $ and , higher inflation of non-discretionary spending items like oil and mortgages and collateral damage from falling property values which fueled retail spending through equity releases and the feel-good factor which is no more!

  8. #8
    Politics.ie Newbie
    Join Date
    May 2007
    Posts
    62
    Mentioned
    0 Post(s)

    Default

    With new stores, malls, and outlets opening every week, the spending pie has to be divided among more shops.

  9. #9
    Politics.ie Newbie
    Join Date
    Jun 2007
    Posts
    6
    Mentioned
    0 Post(s)

    Default

    I sold a shop in kilkenny last year, and even back then the screws were tightening. From talking to retailers that are still there, I'm glad I got out while I could. It's virtually impossible to sell a lease for a shop unit at the moment (in Kilkenny anyway).

    It always pi$$es me off when I hear people like Conor Pope encouraging shoppers to buy online for their Christmas shopping. They point out that items are so much cheaper than in high street shops. Of course they are, online shops don't have to pay: Rates, rent or Shopping Centre mgmt fees. These costs are massive, trust me. If I was making a profit I wouldn't have sold.
    "I might have appointed somebody but I appointed them because they were friends, not because of anything they had given me" - Bertie Ahern

  10. #10
    Politics.ie Member
    Join Date
    Oct 2005
    Location
    KERRY
    Posts
    1,525
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by clareman51
    With new stores, malls, and outlets opening every week, the spending pie has to be divided among more shops.
    That is not what we are saying at all. What is coming clear is that the pie is falling a bit even if there is more competition for a share of that pie which is incidental.


    Here those November football figures I refered to http://www.businessworld.ie/livenews.htm?a=1926795

Page 1 of 17 1234511 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •