Then one more…

December 30, 2008

After Wookworths and MFI, analysts were forecasting that ten retail chains would close in the next twelve months.

We’ve seen Zavvi, Whittard and Adams.

Now we can add USC to the list.

The Guardian reports

Despite a surge in post-Christmas sales on the high street, another retailer, fashion chain USC, has collapsed and the future of childrenswear retailer Adams hung in the balance today.

Scottish-based USC went into administration, putting 300 jobs at risk. Bryan Jackson at accountants PKF, which has been appointed administrator, said a deal had been negotiated with Dundonald Holdings, which will buy up to 43 of the high street chain’s 58 stores, safeguarding 1,127 jobs. The remaining 15 stores will be temporarily run by the administrator.

So that’s four…

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Here’s another two…

December 28, 2008

After Wookworths and MFI, analysts were forecasting that ten retail chains would close in the next twelve months.

Well a few days ago I mentioned Zavvi.

You can add Whittard to the list.

It now looks like Adams will be going too…

UK childrenswear retailer Adams has applied to go into administration, the BBC has learned.

Read more.

So that’s three down, seven to go…


Woolworths store closures begin

December 27, 2008

Woolworths store closures begin

More than 200 Woolworths stores across the UK are about to close their doors, signalling the chain’s final days on the High Street after 99 years.

Barring any last-minute rescue, the remaining 600 stores will follow suit by 5 January and 27,000 permanent and temporary staff will lose their jobs.

Read more.


Online Shopping at Christmas

December 25, 2008

Five million people will be shopping online this Christmas.

More than five million people are expected to use the internet to carry on shopping on Christmas Day, the online retail group IMRG says.

IMRG estimates more than £100m will be spent online, compared with the £84m spent last year.

The shopping figure compares with the four and a half million people who attend a Christmas church service.

Read more.


One down, nine to go…

December 24, 2008

So only the other day, analysts were forecasting that ten retail chains would close in the next twelve months.

Well one has gone already!

Zavvi has been placed in administration.

The BBC reports:

Music, games and DVD chain Zavvi has gone into administration, Ernst & Young has announced, threatening 3,400 jobs.

The troubled chain has been badly affected by the demise of Woolworths, which forced it to stop taking new orders via its website.


IMF criticises the UK’s VAT cut

December 23, 2008

BBC reports on the criticism by the IMF on the UK VAT cut.

An International Monetary Fund (IMF) economist has criticised the UK’s 2.5-percentage-point cut in spending taxes.

Olivier Blanchard, the IMF’s chief economist, said that the temporary cut in VAT would not significantly influence shoppers’ behaviour.

Has the 2.5% cut in VAT made an impact on consumer spending? When you consider the 20-50% reductions we are currently seeing on the high street, will a 2.13% cut on prices as a result of the 2.5% reduction in VAT actually make a difference?

If an £117.50 iPod is now just £115.00 will saving £2.50 make me go out and buy one, more than likely no!

However the overall savings I make across buying stuff with VAT may allow me to spend more.

Though problem is that most of the stuff people spend their income on, food and mortgages, don’t have VAT!

Interesting to see if the cut has any effect whatsoever.


What is dispersion?

December 22, 2008

You have been gathering data for your business. It could be daily sales figures; spend per customer; cost per job.

You are interested in the spread of the data from your business.

So what is dispersion?

It”s how data is dispersed, or spread.

The mean, median and mode give an indication of central tendency, dispersion gives an indication of spread.

Measures of spread include: range; mean absolute deviation, variance and standard deviation.

Read more.