Thread: Jessops
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Old 09-11-09, 20:18
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Joe Joe is offline  
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Location: Manchester, United Kingdom
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Deci,
I've actually worked for both Jessops and Currys. Whilst you may think this is the ramblings /moanings of yet another goader, unlike some, I do actually know what I'm taking about here. The duplicate stores seen up and down the country (and empty stores now closed down but still with the Jessop frontage/ boards) is due to the, sometimes, long rental lease agreements signed up to. The Jessops branch at the Fort retail park Manchester, for example, has only just technically become available for another retailer to move in. That's near TWO YEARS after it closed for trading. In the eyes of the accountants it was seen as either an option to sublet in the meantime, unfortunately in this case of no takers, remain empty, but most definately never to open for trading. The rental paid over this period to the first available opt out at the end of the term had already been accounted for and written off also incidentally during the period of passing (ie selling) much of the 'clearance' stock to a separate holding company (not owned by Jessops) at the time. In other cases/stores the store was deemed to be one where the stock was redistributed, which in many cases, included premises previously occupied by the 'competitor' camera shop bought by Jessops. Bizarrely, as has been pointed out, sometimes across the road or next door to a 'regular' Jessops. Sometimes both stores may have looked 'regular' (and sometimes one would be regular, the other a clearance store), but I can assure you, whilst the staff and store costs may have been paid from the same Jessop Head office money pot, the stock was actually owned by different holding companies, and sold on behalf of Jessop staff, issuing Jessop receipts, with the understanding that the Holding company would've paid Jessop a lump sum up front to basically get them out of the immediate shit (though store it for a future time in effect). During this period the Jessops group needed a quick fix, and selling some of their stock was the short term answer. Therfore, as this coincided with lease agreements being tied to set terms which they simply had to do something with (ie they HAD to remain trading on those premises) Jessop had no option but to duplicate stores.
I can appreciate that on the outside looking in, it may have indeed looked like Jessop had bought the competition out (incidentally Techno did the right thing) and opened a duplicate store, but in some cases, Techno being one, Jessop did over stretch themselves, which also coincided with The Jessop group ltd floating on the stock market. However, I guess looking back many ill advised directions were taken, but always keeping the share holders happy!... but that's another thing!

Currys don't stock, and probably never will, stock specialist kit (in your eyes an 85mm 1.8 may not seem specialist, but the eyes of a mainsteam store, it most certainly is). It simply does not shift off the shelves fast enough, and doesn't make a large enough margin, with lack of KPI opportunity. Space has to earn it's keep in a shop, and that doesn't include the time spent by the clowns and dreamers looking at specialist kit they either can't afford or simply have no intention of buying. It's pure economics, which ironically is the same reason those specialist bits of kit usually get put on an optional special order if you want it from the high street, or people order online.
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Last edited by Joe; 09-11-09 at 20:28.
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