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Originally Posted by denphone
The trouble is with HOF and Debenhams is many of their stores are too big for the modern age and both have been very slow to react to the huge structural retail changes that has happening in the last decade or so.
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Debenhams hasn't been able to alter its leases as it is has been profitable. And some leases are very long term. At the time, those who negotiated its long-term leases were applauded for getting great deals. They couldn't and didn't predict the internet.
House of Fraser could have invested more in its website earlier but has been hindered by a succession of short-term owners including a Chinese firm who promised the earth but just invested its UK profits in Chinese stores. Ironically, "lefty" staff-owned John Lewis has made the correct moves.