Boots considering plans to close up to 200 of its UK stores

[Goksly]

So many big chains struggling at the minute.

Yeah - struggling with £400m profits for the year. I don't understand all the doom and gloom... M&S was the same, 100's of £1m's in profit but as it was down, they start closing stores which in turn costs 100s of £1m's. Yes they can't carry on the trend and expect to survive, but don't understand why everyone thinks they're doomed. Unlikely Debenhams who posted a loss of a huge amount.

 

[Mobius 1]

A big shame, the one at Euston station closed a couple of weeks ago and that was always busy.

Surprised WHSmith is still going.

WHSmith have the funky pigeon brand iirc. That will be making them money.

 

[Semple]

This is a bit concerning, not least of all because Mrs. Feek works in the local one.

If it happens, I wonder what sort of shops they'll target. The larger ones always seem to be utterly crawling with staff but it's totally the opposite in the smaller shops. She works in a relatively small one, they have (at most) two members of staff on duty in the shop itself and it's always busy. If they're not filling shelves, pulling forward, etc then they're serving customers. The pharmacy has slightly more staff but again, they're always very busy.

I obviously don't know what their profit is but she often mentions the daily takings in the shop (not including the pharmacy) and they're not insignificant. I do hope that the fact they have few staff and relatively decent takings that it won't be one of the branches marked for closure.

Some things are expensive but other stuff is cheap. The own brand medicines for example are crazy cheap. Also, I buy a years supply of their own effervescent multi vitamins for about twenty five quid due to the 'three for two' offer. They taste better than Berocca and if you look at what they contain, the Boots stuff actually has more than Berocca.

How close is the next store? 200 stores out of 2500, what's that 8% of stores to be closed, seems quite a small number. When you look at what xenon posted up in London with there being what 15 boots stores in probably a 20-30 min walk. I would imagine these get targeted first unless they're turning over a very good profit.

You make a good point about the stores though, a larger store might have more stock and sell more, but it's staffing costs and footprint costs are significantly larger.

 

[Rroff]

How close is the next store? 200 stores out of 2500, what's that 8% of stores to be closed, seems quite a small number. When you look at what xenon posted up in London with there being what 15 boots stores in probably a 20-30 min walk. I would imagine these get targeted first unless they're turning over a very good profit.

You make a good point about the stores though, a larger store might have more stock and sell more, but it's staffing costs and footprint costs are significantly larger.

It'll often come down to things like rent cycles and increases/decreases and/or whether they can renegotiate rent (not sure what Boot's position is in terms of owning their footprint). As well as takings and proximity to other stores, etc.

 

[Minusorange]

I would imagine these get targeted first unless they're turning over a very good profit.

Do they own the buildings that house the stores ? Doesn't seem much point in shutting down a store that's turning a profit unless you can sell the building for a large sum, but then if high street is dying, who would want to be buying high street real estate ?

 

[Diddums]

How the **** are WH Smith still standing

 

[The_Abyss]

There's probably money in dispensing but not a lot in retail. They're a company with an odd culture - I used to run the logistics for part of them back in the day. Interesting head office site.

 

[Rroff]

How the **** are WH Smith still standing

One of the few places that still seem busy whenever I've been past (other than coffee shops).

 

[Feek]

How close is the next store?

3.3 miles, 4.29 miles, 4.82 miles, 4.93 miles and 4.94 miles. The last four there are all in the same town. The next closest is nearly 7.5 miles away in the opposite direction. I would hope that this 'remoteness' from other shops is a good thing.

 

[Semple]

How the **** are WH Smith still standing

I don't think WHSmiths are exactly thriving, no doubt they're going through similar things.

Are there many stationary shops on the high street anymore? They've got competition on the books side - Waterstones and even Amazon.

 

[Rroff]

I don't think WHSmiths are exactly thriving, no doubt they're going through similar things.

Are there many stationary shops on the high street anymore? They've got competition on the books side - Waterstones and even Amazon.

I think Ryman are still going - there is one opposite WHSmiths in several places and neither seem to be short of people coming and going though that doesn't necessarily equate to sales - some could be looking before they buy online :s

 

[dod]

No doubt we will lose one of ours.

Dunoon, with a population of about 13000, has two, within about 50 yards or so on the same street. They do have different closing times though I believe

 

[413x]

Odd, I used the Paddington station one all the time and never once thought their prices to be over the odds compared to supermarkets. Could have been just a few pence an item, but I was happy to pay that for the convenience of being able to pick up medicines, vitamins, toiletries etc. on the way to/from work.

I guess I have a biased view being out of town. Because I don't go into town much.. Especially for shopping. I do it all in supermarket/online.
I'll even get medicine online as its cheaper. But I guess medicine is one that most don't get online.

I just can't see the high street surviving with retail. Anyone like myself will go online, even people in town go online more. I guess if you are really in the middle of town these shops might actually be better than tesco express types.

But can't get over the feeling it's a decline to unsustainability. If business rates caryy on as they are how can anyone compete ?

 

[itchy]

I remember when boots used to sell computers and games. How times have changed.

 

[FishLicker]

This a shame.

Normally I would agree with the idea things are cheaper online, but I buy Beclometasone Dipropionate Nasal Spray from boots cheaper than I can find it online. Its about £6.50... sure you can buy it off an online chemist for £4.20.... if you're willing to pay £4 postage. And amazon and the like just sell the branded stuff for even more money. Supermarkets just sell the branded stuff and take your eyes out and come back for the sockets.

Boots is actually decent for some things.

 

[shadow_boxer]

its a shame, living in nottingham and boots being founded here there is quite a few in the area. We have a massive one 2 minutes down the road from us and never had an issue with prices really.

A bit of a weird one but they also offer one of the best meal deals

Another old Nottinghamian here. Would be really sad to see them go. Hopefully they can stream line their stores and strengthen. They're also a massive employer in Nottingham. At one point I was working there during my A Levels as was my Mum, two Aunts, cousin and uncle. All in various roles ranging from warehouse to senior management.

 

[dowie]

Don't really get the "sad news" comments... they have 2485 stores and they're going to close "up to" 200... so they're soon down to 2285 as a minimum instead? Still plenty of them about then....

 

[FishLicker]

Don't really get the "sad news" comments... they have 2485 stores and they're going to close "up to" 200... so they're soon down to 2285 as a minimum instead? Still plenty of them about then....

Bit of a bummer for the hundreds of soon to be redundant people, don’t ya think?

 

[dowie]

Bit of a bummer for the hundreds of soon to be redundant people, don’t ya think?

How many redundancies have they announced?

Of course it is a bummer for individuals getting made redundant, but that happens all the time.

 

[Brutal biff]

Ripping off the NHS is where boots make the majority of there money