• Welcome to Camera Craniums: The Photography Community for Enthusiasts.
 
Members
Stats
  • Total Posts: 62,411
  • Total Topics: 5,704
  • Online today: 297
  • Online ever: 856 (January 21, 2020, 09:07:00 AM)
Users Online
  • Users: 0
  • Guests: 61
  • Total: 61
millets
Amazon Spring Deal: SanDi...🌸🌼 Get Ready to Blossom w...Marantz Professional MPM-...Google Pixel 7a and Pixel...JasmineSanDisk Ultra 64GB USB Fl...SanDisk 512GB Extreme PRO...GiaDo You Shoot Photos With ...Which eye do you use with...SanDisk 256GB Extreme PRO...Duracell Plus Alkaline 1....RØDE VideoMicro Compact O...I must be one of the rare...Learning ResourcesPhotography and Time of D...

Tell me why this doesn't mean Jessops is bankrupt

Started by Jonathan, September 29, 2009, 10:11:34 AM

Previous topic - Next topic

Jonathan

Shareholders just lost 95% of their money.  "Jobs are safe" but they ain't ruling out store closures.  And it's pretty much owned by HSBC now.  Oh and they still have £20M of debt with no hope of raising capital by share issue.  Looks a bit like bankruptcy to me.... http://bit.ly/JSngr
It's Guest's round

Oldboy

Well it would be if HSBC pulled the plug!  :(

Does that mean it won't be supporting the DCM competition in future?  ::)

It needs to fire all the directors including the one who went on the buying spree in the nineties, in a mad rush for expansion.  :doh: :tup:

John Doyle2

Jessup's picked up a lot of flak in the past! Mainly regarding their pricing policy and also in their confusing 'Price Matching' relating to various web sites. However many photographers [and beginners] got their 'hands on' in Jessup's, some even made a purchase too. Advice varied from good to bad depending on the store staff. Ineptitude and possibly bad control of the operation policy from the top is my opinion. Yes, heads should roll for this blunder. However, it would be a shame and possibly our loss if they go bankrupt and close down!

krennon

I reckon they need to sort out their pricing on "consumables" like filters and memory cards, they are wa over the top...lenses and stuff they don't seem so bad for the SONY 70-300 is £179.00 in Jessops and £177.00 from Warehouse Express...if I had the money I would get it from Jessops as I can go along there at lunchtime....would hate to see it go there's a couple of really good staff in my local one who know what they're talking about....
http://www.flickr.com/photos/keithfransella/

"Everything in moderation including moderation" Oscar Wilde

minky_monkey

Kingston`s always been pretty good for me.  They`re reasonably competitive on bodies, lenses less so.

I bought my original 350D from them and personally would hate to see them go under, but they desperately need to sort themselves out.

Zenmer

My local Jessops has recently made a most staff redundant, they then had to re-apply for their jobs, which of course a lot of the older, more experienced ones haven't  got, they've been given to cheaper to employ school leavers 
Two things are infinite : the universe and human stupidity; I'm not sure about the universe

Jonathan

Quote from: krennon on September 29, 2009, 12:10:53 PM
I reckon they need to sort out their pricing on "consumables" like filters and memory cards

Um, that's the only place they will make any money at all.  I worked for DSG for a while and cables etc were called "essentials" and never ever discounted.  Wouldn't surprise me if they paid the manus to take cables out of the printer boxes.  IIRC profit on a laptop case is something like 3X the profit on the laptop.  I don't mean in percentage terms - I mean ££.

Profit on the 70-300 lens might be £20.  Profit on a £24.99 UV filter for it might be £22.  They have to pay the staff and for the stores somehow.
It's Guest's round

Oldboy

Quote from: Jonathan on September 29, 2009, 06:53:58 PM
Quote from: krennon on September 29, 2009, 12:10:53 PM
I reckon they need to sort out their pricing on "consumables" like filters and memory cards

Um, that's the only place they will make any money at all.  I worked for DSG for a while and cables etc were called "essentials" and never ever discounted.  Wouldn't surprise me if they paid the manus to take cables out of the printer boxes.  IIRC profit on a laptop case is something like 3X the profit on the laptop.  I don't mean in percentage terms - I mean ££.

Profit on the 70-300 lens might be £20.  Profit on a £24.99 UV filter for it might be £22.  They have to pay the staff and for the stores somehow.
They get 30% on lenses but 70% on photos.  :o

oRGie

I used to like going into jessops, but I bought my first cam from a small indie shop, I miss them too, but I guess at the end of the day as consumers become more confident in shopping on-line and highstreet stores cost so much to run, its fairly obvious they are not going to be able to compete.

hevans

Sadly, though, it's very important to try out the product yourself before buying. You can't do that online.

H.

ABERS

Remember Jessops first store, well it was more a warehouse really, in Hinckley. Must have been back in the late 70's, and they had hit on this 'new idea' of buying in bulk and selling cheaper than the local camera shops.

It was a bit like Argos is today, you went with their advert from AP, up to a counter said what you wanted, paid for it and collected your goods at the counter on the way out. If you went at the weekend the queues were enormous.

Strange really, they then expanded into the shop regime and other dealers like Warehouse Express, Park Cameras went in the opposite direction. Here they are now hanging on by their fingertips. Shame really. :(

Jonathan

Quote from: Oldboy on September 29, 2009, 07:36:26 PM
They get 30% on lenses but 70% on photos.  :o

Is that based on hard numbers of guesswork?

There was a Canon price list on the net a while ago showing markup and IIRC consumer level lenses were somewhere around 17%, pro 20 ish and exotics rather more.

No way there is 70% profit on prints.  No way at all.  Even discounting the cost of the machine.
It's Guest's round

Oldboy

Quote from: Jonathan on September 30, 2009, 11:06:05 AM
Quote from: Oldboy on September 29, 2009, 07:36:26 PM
They get 30% on lenses but 70% on photos.  :o

Is that based on hard numbers of guesswork?

There was a Canon price list on the net a while ago showing markup and IIRC consumer level lenses were somewhere around 17%, pro 20 ish and exotics rather more.

No way there is 70% profit on prints.  No way at all.  Even discounting the cost of the machine.
It's quoted from an article online.  ;D

Al Birmingham

Quote from: Oldboy on September 30, 2009, 11:25:12 AM
Quote from: Jonathan on September 30, 2009, 11:06:05 AM
Quote from: Oldboy on September 29, 2009, 07:36:26 PM
They get 30% on lenses but 70% on photos.  :o

Is that based on hard numbers of guesswork?

There was a Canon price list on the net a while ago showing markup and IIRC consumer level lenses were somewhere around 17%, pro 20 ish and exotics rather more.

No way there is 70% profit on prints.  No way at all.  Even discounting the cost of the machine.
It's quoted from an article online.  ;D

Ahh, an article on line, it must be true then!
Al Birmingham

Oldboy

Quote from: Al Birmingham on September 30, 2009, 02:45:52 PM
Quote from: Oldboy on September 30, 2009, 11:25:12 AM
Quote from: Jonathan on September 30, 2009, 11:06:05 AM
Quote from: Oldboy on September 29, 2009, 07:36:26 PM
They get 30% on lenses but 70% on photos.  :o

Is that based on hard numbers of guesswork?

There was a Canon price list on the net a while ago showing markup and IIRC consumer level lenses were somewhere around 17%, pro 20 ish and exotics rather more.

No way there is 70% profit on prints.  No way at all.  Even discounting the cost of the machine.
It's quoted from an article online.  ;D

Ahh, an article on line, it must be true then!

It's from the Telegraph online: http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/5215061/Executive-chairman-puts-his-imprint-on-Jessops-camera-chain.html  :tup:

Camera Craniums is a participant in the Amazon EU Associates Program. This affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to products on Amazon.