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Tag Archive: High Street

U.K. Electronics Stores To Close

DSG International, which owns the UK High Street electronics chains Currys.digital and PC World, has announced that it will phase out 77 of a total of 177 Currys.digital stores over the next five years as their leases expire, even as DSG reported a 1% rise in like-for-like sales for so far this year.

But the company is hoping to cut costs by $100 million over the next year and has already issued two profit warnings, even as its chief executive John Browett said that predictions will be hard to make in the tighter economic climate. He told the BBC,
"Customers have become increasingly promotion and deal driven, impacting gross margins."

Game Looks Set To Eat Gamestation

Game Looks Set To Eat GamestationIt’s not all signed, sealed and delivered yet, but the way looks clear for UK High Street video game retailer Game to acquire one of its competitors,Gamestation.   The Competition Commission yesterday gave provisional approval to the dealafter concluding that it wouldn’t significantly lessen the competition in the market.   Game and Gamestation are the largest UK video game retailers, and the deal, worthy around $150million, was announced in May. But the Office of Fair Trading asked the Competition Commission to investigate and determine the impact on other retailers.  However, it proved to be an even 2-2 vote among the Commission members, until the chairperson, Diane Coyle, cast her vote in favor of the clearance. That split decision means that the Commission isasking for views from all interested parties before the end of the year.   “This is a finely balanced verdict but our provisional conclusion is that we do not believe this acquisition willgive the merged company the opportunity significantly to raise prices or reduce service for new or pre-owned products, or to cut trade-in prices paid to customers,” said Coyle."…ifthe merged company was to raise prices, for example, we think it is likely that customers could move a significant amount of their business to alternative retailers such as independents, high-streetretailers, supermarkets and internet retailers."  

Shop Online And Save The Planet

Shop Online And Save The PlanetIt might be an idea whose time has come – shop and save the planet. In the UK, online shoppers can now build up credits to offset their annual carbon footprint.   A new portal, Smartly Green, allows shoppers to click through to the web sites of major High Street retailers like John Lewis, Asda and Comet. When they make a purchase, Smartly Green receives a commission from the retailer.   Of the commission, 50% isreturned to the shopper. But here’s where it differs from most loyalty schemes. 80% of the amount due to the shopper is given to PURE, a carbon-offsetting charity that’s compliant withthe Kyoto Treaty. The remaining 20% goes to the shopper in cash.   Once a shopper has offset his annual carbon footprint (which you can calculate through Smartly Green, then the figures arereverse, with 80% returned to the shopper and 20% going to PURE.   As a rough guide, Smartly Green estimates that a family of four living in a detachedhouse, owning two cars and taking one flight to Europe and one long-haul flight per year will emit about 16 tonnes of CO2. As an average, each $600 spent via Simply Green will generate enough incommission to offset 0.5 tonnes of carbon. That means spending over $19,000 a year via Smartly Green to offset the family’s emissions – and that’s quite a chunk of change, and meansthat most people won’t be seeing a lot of cash returned to their wallets.   However, for ethical shoppers, it might represent a step in the right direction.

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