Deathwatch - Jessops profits fail to develop
Jessops probably doesn't belong on the retail Deathwatch list, but Andy accidentally dropped the old list in the bath, so we need to fill up a brand new one. A high street specialist camera shop feels a little superfluous when there are plenty of online counterparts, so it may not be a bad shout.
The company has just reported full-year losses of almost £50 million, hot on the heels of the first stumble encountered by the digital camera market in many years. According to Which? like-for-like sales fell 6.5 per cent in the year, although price cuts helped Jessops to a 3.8 per cent rise in the past two months, although it's thought sales would have dropped further if prices hadn't been cut. Jessop's market share also took a tumble, from 18.7 per cent to 15.9 per cent, a result of 81 stores closing in 2007.
How many of us use shops like Jessops to road-test the physical products and then order them online regardless? If that's the case, will Jessops continue to have a significant presence on the high street?