DSG (Dixons, Currys PC World), Argos & +1 report Christmas results - Down 10% & 7.5%

ps2659

Conflict wrote: »

Now for some REAL good news unlike the HMV news which is largely rubbish as itsnever2lateisit? pointed out .

PRIMARK - UP 18%! this of course before the linking to UK based sweatshops, etc.

Maybe Baroness Vadera was right after claiming she could see "a few green shoots" of economic recovery.

michaels

Have they announced profit numbers yet? Wife was in Homebase just before xmas looking to see if they had any super cheap xmas decorations like previous years and there were none left. The staff told her that they had ordered much less stock in in anticipation. Now obviosuly some of their costs are fixed but I bet they also have enough flexibility to reduce staff hours etc so just because they have reported a big drop in sales does not mean profits being wiped out if they have managed their stock carefully to maintain margins.

alared

DSGi doesn`t sell anything that you can`t buy cheaper elsewhere.

They are another Woollies.

Conflict

alared wrote: »

DSGi doesn`t sell anything that you can`t buy cheaper elsewhere.

That's true for in the shops but on-line, mostly due to there voucher codes that they even publish on there own site, are often the cheapest. Think they must already have a strategy to ditch the majority of their shops and go largely internet based as anyone can see that's the way its going.

Really2

Conflict wrote: »

Think they must already have a strategy to ditch the majority of their shops and go largely internet based as anyone can see that's the way its going.

Great soon we will have to buy goods we have never seen.

i think the internet can support purchases up to a certain value (£500ish but more for IT equipment) After that i do think people do want to actualy see what goods are like and the build quality.

Generali

!!!!!!? wrote: »

We had an economy with an disproportionately large retail element built on people borrowing money to spend on imported consumer goods.

Only one way that story was going to end, the remarkable thing is that it lasted so long.

Perhaps the maddest bit was the 'vendor financing' aspect. The sellers of plastic tat and expensive oil have been providing and financing credit for Westerners to buy it all.

WTF?_2

Generali wrote: »

Perhaps the maddest bit was the 'vendor financing' aspect. The sellers of plastic tat and expensive oil have been providing and financing credit for Westerners to buy it all.

Who will be the biggest losers: Us, or the people who gave us loads of cheap goods in return for I.O.U.s?

Basically I have to wonder if we will honour our debt. My gut says 'no' - massive inflation on the way to essentially allow the West to default on debts denominated in Western currencies.

sympatex

michaels wrote: »

Have they announced profit numbers yet? Wife was in Homebase just before xmas looking to see if they had any super cheap xmas decorations like previous years and there were none left. The staff told her that they had ordered much less stock in in anticipation. Now obviosuly some of their costs are fixed but I bet they also have enough flexibility to reduce staff hours etc so just because they have reported a big drop in sales does not mean profits being wiped out if they have managed their stock carefully to maintain margins.

I have moles albeit very low level moles for homebase. 4 of my friends work for homebase ranging from shift managers to kitchen consultants and a warehosue shelf stacker (he enjoyes the forklift driving aspect).
I talk to them about 'noises' the companies upper management are making and they don't seem to be concerned about job losses. Still recruiting etc etc.

Generali

!!!!!!? wrote: »

Who will be the biggest losers: Us, or the people who gave us loads of cheap goods in return for I.O.U.s?

Basically I have to wonder if we will honour our debt. My gut says 'no' - massive inflation on the way to essentially allow the West to default on debts denominated in Western currencies.

An alternative of course is just to say, "We're not paying!". It's been done before many times before (eg Russia 1917).

BlameTheGame

Regardless of how many people hate DSGi for their poor service they won't be going under anytime soon.

DSG International said it had benefitted from the New Year sales - with sales up 2% in the two weeks to 10 January.