Two more retail companies look doomed

[denislawsbackheel]

To ignore the effect of Brexit is to stick your head in the sand in denial as most brexshiteers do.

A factor that affects my shopping is the greater consumer rights I have online. E.g.being able to get a refund for any reason such as just changed my mind that don’t exist in store.

I also thing most of us have come to realise we have enough “stuff”.

 

[TCIB]

Just been announced HMV are about to go into administration for the 2nd time in 6 years. 2200 jobs at risk

HMV deserve to go under. They were perfectly positioned to take advantage of the switch to digital music but decided they would be just fine. One of the worst managerial decisions in business history imo. Whoever the bosses were then should have been put in stocks so everyone could see the face of the thickest dumbest people ever to have squeezed out a a turd. I feel bad for the staff, they are the ones who will suffer. The wankers who sent them on this path no doubt got healthy payoffs when they left their position.

Just look at spotify and apple music now, that is their bullseye "here is what you could have won".

 

[denislawsbackheel]

Spotify?

$5 billion revenue in 2017 but still $1.5 billion losses!

Will it ever make a penny profit?

 

[Tuearts right boot]

I'd say its little or nothing to do with Brexit and everything to do with a long term structural change in how we shop. HMV is particularly negatively impacted because the things they sell have moved online extremely rapidly. Movies & music aren't being physically bought by an increasing number of people (even FOCs like me) so they were always going to be doomed. Other recent casualties such as Toys R Us, Maplins, Phones 4 U etc had an unsustainable business model or saw their business moving to online competitors. All either closed before Brexit or would have done so anyway.

Dont forget Woolworths, that was the first to go just by thinking about the possibilities of leaving the EU. Face it we're all doomed beyond belief.

 

[Bert Trautmanns Helemet]

Spotify?

$5 billion revenue in 2017 but still $1.5 billion losses!

Will it ever make a penny profit?

They said exactly the same about Amazon...
Spotify is rapidly becoming the de facto way to listen to music.
The word is that Apple is considering changing their iTunes model to a
total streaming site with no downloads as Spotify has seriously eaten into them.
Yep - Spotify will make serious profits in the coming years me thinks.

 

[Ardwick Green Blue]

To ignore the effect of Brexit is to stick your head in the sand in denial as most brexshiteers do.

A factor that affects my shopping is the greater consumer rights I have online. E.g.being able to get a refund for any reason such as just changed my mind that don’t exist in store.

I also thing most of us have come to realise we have enough “stuff”.

So apart from a pathetic dig at Leavers you are saying that HMV going bust (again) has got fuck all to do with Brexit....

 

[feedthegoat27]

Worked at HMV for 6 years from 2008 to 2014. To say they didn't adapt to an ever changing market would be an understatement. I know back in the day their big bosses dismissed the threat of the internet for a long time. By the time they reacted it was too late and they were behind the curve.

People will look at the music side of things, but I think they've mostly been hit on the visual stuff. With the rise of Netflix, Amazon, Sky PPV et al, people are less inclined to physically buy a dvd/Blu-ray these days. Whereas sales of things like vinyl have increased recently. I read earlier that total sales for physical music, film and games stands at 2 billion annually, so there is a market there for the time being at least. But Amazon have such a hold on the industry these days, and HMV high management are (or at least were) shite. Just look at all the crap they clog stores up with at Christmas.

I was with the company when they went into administration last time. That ended positively, sadly I don't think lightning will strike twice.

 

[gordondaviesmoustache]

It’s a long, slow march to death for most of the high street.

 

[Ardwick Green Blue]

It’s a long, slow march to death for most of the high street.

Absolute bullshit!!!

It's all because of Brexit...

 

[worsleyweb]

I also thing most of us have come to realise we have enough “stuff”

That’s it for me. Only possessions I care about are City programmes. Not sure what I could buy in a shop.