Jessops

4303 days ago

I cannot figure out UK consumer spending patterns - something does not add up

I cannot figure out the consumer spending patterns in Bankrupt Britain – something does not add up

I have to admit that consumer spending patterns have me rather flummoxed. And this makes life, certainly when it comes to investment recommendations, just that little bit tougher. My problem is that empirical data does not seem to be backing up what has been a core macro-economic assumption for me. Well, it is in parts.

My assumption was that with most of our fellow citizens in this green and pleasant province of the EU still heavily indebted and, with a psychic sixth sense, aware that interest rates are bound to increase (something the bond market is telling you pretty explicitly); consumer spending would be pretty soggy this year.

In the run up to and after Christmas, things seemed to be going to plan. Trading across the High Street was pretty weak. Indeed, it was bad enough to push a number of high profile retailers with flawed business models over the edge. I see that Republic has now joined Jessops and HMV in retail heaven today. Surely this would only add to the consumer gloom?

4332 days ago

HMV Follows Jessops and goes bust – who is next?

It is amazing what cobblers some folk spout. HMV (LSE:HMV) has gone bust. It follows hard on the heels of Jessops which headed to retail heaven earlier this week. Chuka Umunna, Labour’s Shadow Business Secretary, called HMV a “national institution” and described the news as “deeply worrying” Yeah right. What next Chuka? Blame it all on Margaret Thatcher or global warming? HMV is not a national institution it was a commercial enterprise that like British Leyland or coal mines in Yorkshire that had run out of coal was just past its sell by date. In the old days, cretins like Umunna would probably have called for a state subsidy. Now they just blame it on the Tories and wring their hands in a pathetic fashion. The demise of HMV was inevitable, it could not even be saved by soaraway sales of CDs by the UK’s leading chanteuse Ms Cheryl Cole.

4337 days ago

Jessops Bust – Who is next? How can you make money from it?

Camera store chain Jessops is appointing an administrator as it is effectively bust. What caused this privately owned firm to go under and who is next? As it happens I bought a camera from Jessops just before Christmas and as I did so I wondered why on earth this store existed in the first place. That should not detract from the issues the entire High Street faces.