Two more retail companies look doomed

I was more implying that economic uncertainty, which is currently high due to inept politicians does has an effect on people’s habits. In times of perceived crisis, whether real or not, people tend to save money rather than spend, in anticipation that their situation may change for the worst.
It doesn’t take much for this to have a knock on effect. Obviously the biggest long term impact on the high street is online shopping.
 
feedmpenzaandhewillscore said:
Streaming killed HMV off as a business model, what else could they sell to compensate for the music sales they used to stack up over the years. Unfortunately we are now slaves to our Amazon, Netflix and Spotify overlords.
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Underinvestment and lack of vision killed them. They should have been in prime position to beat Netflix and Spotify but they thought it was a fad.
 
TCIB said:
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".
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As usual, someone had the same point but phrased it better...
 
denislawsbackheel said:
Spotify?

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

Will it ever make a penny profit?
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It's about market share not profit for them at the moment. Once they've rented the space in your head that Google and Facebook currently occupy, that 5bn will be easily increased to 10bn.
 
aguero93:20 said:
As usual, someone had the same point but phrased it better...
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You are right about netflix to. HMV were our main media source probably, a name we knew and trusted. It was literally on a plate for them whilst NF were still on the dvd postal rental model. Amazon sold books and brooms and nothing else at the time to. Even the simple name "HMV Home" works as a brand name for the digital sector. The more i think of it the more i look at it as a sort of lesson that should be taught in every business learning class.

Everything was shifting towards digital, datacentres being put up like McDonalds were, computer sales were going apeshit, cd player sales were dropping through the floor or at least starting to. Domestic internet speeds were getting better. Basically a new born mouse could give a solid analysis on the markets direction. People are lazy, did they really think people would drive to HMV when they could open up an apple app and get it for 99p and not have to move a muscle. I find it astounding when you look at the mess in any detail. It feels like some sick 1 dollar Trading Places bet from the Mortimer brothers seeing if they can fuck up a rock solid company within 5 years.

aguero93:20 said:
Fucking hell I have to back the Brexiteers.

This is not Brexit's fault!
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I think he is ribbing another poster bud; who is actually aligning this with brexit or comparing some aspect of it etc.
 
feedthegoat27 said:
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.
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What were the conversations between staff like? was it basically "we are fucked, management don't know their arse from their elbow"? That would be a pretty fucking shit umbrella to work under. It must have been infuriating knowing how this is going and hearing about the big bosses annual bonuses on the grape vine.

I bet the bosses that fucked it all up are not exactly proud as punch when noting they were senior strategy managers at HMV on their linkdin profile. Or maybe they are, some of these tossers think the world owes them a national holiday for getting up in the morning.
 
TCIB said:
You are right about netflix to. HMV were our main media source probably, a name we knew and trusted. It was literally on a plate for them whilst NF were still on the dvd postal rental model. Amazon sold books and brooms and nothing else at the time to. Even the simple name "HMV Home" works as a brand name for the digital sector. The more i think of it the more i look at it as a sort of lesson that should be taught in every business learning class.

Everything was shifting towards digital, datacentres being put up like McDonalds were, computer sales were going apeshit, cd player sales were dropping through the floor or at least starting to. Domestic internet speeds were getting better. Basically a new born mouse could give a solid analysis on the markets direction. People are lazy, did they really think people would drive to HMV when they could open up an apple app and get it for 99p and not have to move a muscle. I find it astounding when you look at the mess in any detail. It feels like some sick 1 dollar Trading Places bet from the Mortimer brothers seeing if they can fuck up a rock solid company within 5 years.



I think he is ribbing another poster bud; who is actually aligning this with brexit or comparing some aspect of it etc.
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Existing market share gave HMV that trusted status mate and they could have owned it, as Argos, IKEA, Curry's, Tesco have done or even just held on like the likes of gamestop managed.
It's shocking looking back that they wrote it off the way they did. Absolute board level fuck up and I feel sorry for the shareholders.
You're right about teaching this as part of corporate governance and business management, they should be what Arthur Anderson are to my industry. A complete fuck up caused by the arrogance and ego of those that could never be wrong.
 
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