Menu
21/06/2007
Jessops cut stores and jobs
High Street photographic chain Jessops has announced it is to axe 81 stores in a cutback as part of a "strategic review".
The company said that 47 of the stores were "overlapping," 31 were loss making and three were being redeveloped.
Jessops will shed 550 jobs and expect to realise savings of £15 million and a new banking facility has been agreed with HSBC.
Jessops Chief Executive Chris Langley said: “The strategy and actions we have announced today build on the underlying strengths of Jessops and our unique position as the leading photographic retailer in the UK.
“Our results show the extent of the tough market conditions we have faced in the past eight months and the severe price deflation affecting our markets. Despite this, the number of cameras sold increased and we continued to make market share gains."
He added: “Whilst the market is likely to remain challenging, I am confident that the steps we are taking will provide us with a stronger platform for the future."
The firm's traditional business has been hit by the rise of digital camera technology and intense competition in the sector.
(SP/JM)
The company said that 47 of the stores were "overlapping," 31 were loss making and three were being redeveloped.
Jessops will shed 550 jobs and expect to realise savings of £15 million and a new banking facility has been agreed with HSBC.
Jessops Chief Executive Chris Langley said: “The strategy and actions we have announced today build on the underlying strengths of Jessops and our unique position as the leading photographic retailer in the UK.
“Our results show the extent of the tough market conditions we have faced in the past eight months and the severe price deflation affecting our markets. Despite this, the number of cameras sold increased and we continued to make market share gains."
He added: “Whilst the market is likely to remain challenging, I am confident that the steps we are taking will provide us with a stronger platform for the future."
The firm's traditional business has been hit by the rise of digital camera technology and intense competition in the sector.
(SP/JM)
Related UK National News Stories
Click here for the latest headlines.
30 April 2009
House Prices Fall By 0.4% in April
The price of a typical house fell by 0.4% in April according to the latest figures by the Nationwide. April's decline leaves the average price of a house at £151,861, down 15% from a year ago.
House Prices Fall By 0.4% in April
The price of a typical house fell by 0.4% in April according to the latest figures by the Nationwide. April's decline leaves the average price of a house at £151,861, down 15% from a year ago.
02 April 2014
M&S To Open 250 Food Stores
Today at Marks & Spencer's Investor Seminar in Paris, the retailer unveiled plans for further international expansion with a focus on opening 250 new stores, growing its Food business and increasing its franchise operations.
M&S To Open 250 Food Stores
Today at Marks & Spencer's Investor Seminar in Paris, the retailer unveiled plans for further international expansion with a focus on opening 250 new stores, growing its Food business and increasing its franchise operations.
05 October 2012
Doncaster Tesco Drivers To Strike For 48 hours
More than 180 drivers at the Tesco distribution centre in Doncaster will strike for 48 hours next week, disrupting supplies to Tesco stores across the region. The strike will start at 00:05 on Tuesday 9 October and will end at 00:05 on Thursday 11 October and will cause havoc in supplying the Tesco stores in the Yorkshire and Humber region.
Doncaster Tesco Drivers To Strike For 48 hours
More than 180 drivers at the Tesco distribution centre in Doncaster will strike for 48 hours next week, disrupting supplies to Tesco stores across the region. The strike will start at 00:05 on Tuesday 9 October and will end at 00:05 on Thursday 11 October and will cause havoc in supplying the Tesco stores in the Yorkshire and Humber region.
21 July 2005
Sluggish retail sales growth peaks in June
The latest figures from the Office for National Statistics have revealed that in June the underlying rate of growth in retail sales volumes was the highest so far this year. However, the annual growth has remained the lowest for more than six years, according to data released today by the ONS.
Sluggish retail sales growth peaks in June
The latest figures from the Office for National Statistics have revealed that in June the underlying rate of growth in retail sales volumes was the highest so far this year. However, the annual growth has remained the lowest for more than six years, according to data released today by the ONS.
18 November 2004
Figures show slide in retail sales growth
Underlying retail sales growth is distinctly lower than in the first half of this year, according to figures published today by the Office for National Statistics (ONS). The latest retail sales survey for October 2004 found that the volume of sales in the three months August to October was 1.
Figures show slide in retail sales growth
Underlying retail sales growth is distinctly lower than in the first half of this year, according to figures published today by the Office for National Statistics (ONS). The latest retail sales survey for October 2004 found that the volume of sales in the three months August to October was 1.
-
Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
