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Photo Forum / General Photo Topics / UK Photography / March 2007Jessops share price slumps on profits warning
Earlier this week, Jessops warned investors that profits for the current financial year would fall well short of targets, mainly due to lower sales of digital cameras. The share price dropped rapidly. An idea of how rapidly is seen here: http://www.iii.co.uk/investment/detail?code=cotn:JSP.L&it=le Look at the "Performance Graph", which shows the share price plummeting from a high of over £1.50 per share in January 2007 to a low of only 54.5p today, a loss of over 60%. When Jessops floated onthe Stock Market in October 2004, the initial share price was £1.55. Milton Keynes, UK > Look at the "Performance Graph", which shows the share price > plummeting from a high of over £1.50 per share in January 2007 to a > low of only 54.5p today, a loss of over 60%. > > When Jessops floated onthe Stock Market in October 2004, the initial > share price was £1.55. Will we miss them? They've bought up many once independent traders, and imposed their one size fits all, so to keep going they really have to get it right, and keep it right. Since their physically larger shop in Milton Keynes stopped offering s/h items, I've hardly gone in, now buying my paper and ink from other sources. I'm fairly price savvy, so there's no way I'm paying their listed shop prices when I do buy new items.  SignatureM Stewart -- Posted via a free Usenet account from http://www.teranews.com > Earlier this week, Jessops warned investors that profits for the > current financial year would fall well short of targets, mainly due to [quoted text clipped - 10 lines] > When Jessops floated onthe Stock Market in October 2004, the initial > share price was £1.55. And your point is? > Earlier this week, Jessops warned investors that profits for the > current financial year would fall well short of targets, mainly due to [quoted text clipped - 10 lines] > When Jessops floated onthe Stock Market in October 2004, the initial > share price was £1.55. somehow I fail to be moved, apart from the thought that people on low pay in the shops will probably be the first to suffer. Jessops exists to separate the gullible from their money, just like PC World. PC World does have the redeeming feature of being somewhere with huge stock in branches, and occasionally a bargain or three can be had there. Jessops doesn't seem to have either. Maybe a buyout and new leadership is what that firm desperatly needs FR I still have a soft spot for Jessops. 25-odd years ago in a non-London part of the world they were nearly all there was. But when I walked down New Oxford Street the other day and there was not a second-hand item in sight, well, I don't know. In article <8v2hu21kvjoo9mj19apla91c0hleenrq1r@4ax.com>, tp@nospam.net says... > Earlier this week, Jessops warned investors that profits for the > current financial year would fall well short of targets, mainly due to [quoted text clipped - 10 lines] > When Jessops floated onthe Stock Market in October 2004, the initial > share price was £1.55. somehow I fail to be moved, apart from the thought that people on low pay in the shops will probably be the first to suffer. Jessops exists to separate the gullible from their money, just like PC World. PC World does have the redeeming feature of being somewhere with huge stock in branches, and occasionally a bargain or three can be had there. Jessops doesn't seem to have either. Maybe a buyout and new leadership is what that firm desperatly needs FR > I still have a soft spot for Jessops. 25-odd years ago in a non-London part > of the world they were nearly all there was. But when I walked down New > Oxford Street the other day and there was not a second-hand item in sight, > well, I don't know. maybe others have different views, but I think the company suffers from extremely poor management and strategy. Staff in the shops, when I have visited, do not seem motivated. The goods on offer are vastly overpriced and cater to the kind of customer who may be wandering in with a credit card and not much of a clue what's what. If Jessops could somehow reposition itself as offering both value and service then maybe the prosumer and higher level of client would start coming back, and it's those people who frequently have their opinions sought by novices who want somewhere to spend their money. At the moment they seem to be in the tourist trap mentality of selling to captive audiences for what they can squeeze them for. Selling overpriced burgers to Japanese tourists is the image Jessops evokes to me. They also seem blithely ignorant of the EBay and Amazon culture nowadays where better value alternatives are widely available and delivered straight to the door. FR TP> Earlier this week, Jessops warned investors that profits for the TP> current financial year would fall well short of targets, mainly due to TP> lower sales of digital cameras. TP> TP> The share price dropped rapidly. An idea of how rapidly is seen here: TP> It doesn't surprise me. Their models always seem to be old ones compared to those that you see on the interweb. And the service is a bit lazy. I went into a Jessops the other day to look at a Fuji F30. They had one (it is a tad old - I think there have been two updates). As I looked at it, I said to the salesperson that I was interested because it had a waterproof case at a reasonable price. "Could you get the waterproof case if I buy the camera", I asked. "No" was the answer. SignatureAlan ( If replying by mail, please note that all "sardines" are canned. However, unless this a very old message, a "tuna" will swim right through. ) Over priced. Poor selection of goods. Won't be missed here. Fred. >Over priced. >Poor selection of goods. >Won't be missed here. If Jessops go under, I will shed no tears for their incompetent senior management or their greedy shareholders. On several occasions I have found Jessops selling photo equipment at *above* recommended retail prices. That's both incompetent *and* greedy. I will feel a lot of sympathy for the staff, who cannot be blamed for the management's failings and probably do their best, especially given the terribly low pay they get. But what I already *really* miss, and I have done for some time, are the excellent, independent camera shops that were taken over by Jessops and turned into branches of "The New Dixons", selling a very poor selection of heavily overpriced gear. >But what I already *really* miss, and I have done for some time, are >the excellent, independent camera shops that were taken over by >Jessops and turned into branches of "The New Dixons", selling a very >poor selection of heavily overpriced gear. Indeed. What's more worrying is I even feel some nostalgia for the "old" Dixons, a veritable national treasure by comparison with Jessops. In Dixons heyday I couldn't imagine anything claiming to be a camera shop could ever be worse than Dixons, but Jessops have plumbed new depths of bad customer service and corporate greed. Long may their decline continue - despite my sympathy for (some of) their employees. SignatureJohn Bean >Indeed. What's more worrying is I even feel some nostalgia >for the "old" Dixons, a veritable national treasure by >comparison with Jessops. In Dixons heyday I couldn't imagine >anything claiming to be a camera shop could ever be worse >than Dixons, but Jessops have plumbed new depths of bad >customer service and corporate greed. I'm not sure I could ever find any nostalgia for Doxins, no matter how hard I try, but I know what you mean. I could never forgive Doxins for buying a very good camera shop, Wallace Heaton of Bond Street, London W1, and turning it into just another mediocre Doxins store. But Jessops have commited exactly the same atrocity with hundreds of independent camera shops nationwide. >>Indeed. What's more worrying is I even feel some nostalgia >>for the "old" Dixons, a veritable national treasure by [quoted text clipped - 10 lines] > another mediocre Doxins store. But Jessops have commited exactly the > same atrocity with hundreds of independent camera shops nationwide. Hello Tony. Sadly, it was not just Jessops who hit independent shops. Here in Nottingham we had a very, very good independent photographic shop in a suburb. It was a one-man business that had a bigger range of Cokin filters, tripods and gadget bags than any of the citry centre multiples. The owner knew his stuff about photography and trade was good. The shop was in Beeston which is near to the University. Mike's D&P woul dbe busy on graduation days due to rolls and rolls of film shot at the graduations. The decline started when the influx of graduation D&P died off. A mini-lab was now set up at the University for graduations. The end came when one of the multiple mini-lab shops (M** Sp***) moved into Beeston. The fall in D&P was too much for the one-man shop and it closed. I still have a burst of mostalgia whenever I pass the premises of that shop. By the way, all of this was way before digital photography took off. In fact, it would have been back in the mid 1990s. Nottngham city centre isn't too badly off for photographic shops. Two Jessops (with one chap who certainly knows his stuff regarding film SLRs which is my sort of thing), a Jacobs which has a small amount of second-hand stuff (their big branch near to Leicester station used to have a great second-hand section and their London shop near to Jessops World Camera centre) and a London Camera Exchange which still does second-hand. Personally, I've found London Camera Exchange to be the nearest thing to the independent shops so that's where my money and I shop. Would I miss Jessops if they left Nottingham? Sorry but no. Like many, many other people I stopped visiting the shops regularly when they ceased to handle second-hand equipment (and I think that my last major purchase from them was itsaelf some second-hand equipment). Regards, Ian. [SNIP] > Sadly, it was not just Jessops who hit independent shops. > [quoted text clipped - 7 lines] > D&P woul dbe busy on graduation days due to rolls and rolls of film > shot at the graduations. Ahh, fond memories of Mike Tinkler's shop. My grandmother bought me my first SLR there. I suppose Castle Camera has probably gone too now. Peter > [SNIP] >> [quoted text clipped - 16 lines] > > Peter I think that Mike was quite pleased to hit retirement though he always seemed to enjoy his shop and its customers. Was Castle Camera the shop on Friar Lane and run by an ex-manager from Pentax UK? If it was then, yes, it went years ago, hit by a poor summer for D+R and the opening of a multiple (Tecno or Jessops). Regards, Ian. > > [SNIP] > >> [quoted text clipped - 20 lines] > I think that Mike was quite pleased to hit retirement though he always > seemed to enjoy his shop and its customers. Yes, I think he'd probably had enough! > Was Castle Camera the shop on Friar Lane and run by an ex- > manager from Pentax UK? > If it was then, yes, it went years ago, hit by a poor summer for D+R > and the opening of a multiple (Tecno or Jessops). Yes, that's the one I was thinking of. Strange little place, but very knowledgeable owner. Peter >> > [SNIP] >> >> [quoted text clipped - 32 lines] > > Peter Hello again Peter. Ah - the gentleman who ran that camera shop was a sales rep or sales manager for Pentax if I remember correctly. This would explain the large collection of Pentax cameras in the shop. They were always shown as "not for sale" until the final days of the shop of Friar Lane. Oh - the Friar Lane shop was his second site. He'd initially had a shop near (or on) the junction of South Parade and Bridlesmith Gate. FWIW - there are still some independent shops around. Beryl Houghton in Coventry (and, I think, also in Leamington Spa) and George Torkarski in Lincoln. I've bought from both and been very satisfied with the deals. If you every went to Clay Cross thern you'll have known the Camera Centre there. Sorry - that's now a children's clothes shop. R. G. Lewis in London is still going but is usually quiet when I've visited. Regards, Ian. > >> > [SNIP] > >> >> [quoted text clipped - 53 lines] > > Regards, Ian. Clay Cross Camera Centre - one of the few that still did repairs - moved to the bottom of Clarence Road in Chesterfield many years ago and disappeared some years back. SignatureWoody harrogate3 at ntlworld dot com >> >> > [SNIP] >> >> >> [quoted text clipped - 70 lines] > moved to the bottom of Clarence Road in Chesterfield many years ago > and disappeared some years back. Hello Woody. I visited the shop in Clay Cross around 2003 ~ 2004 so I wonder if that was an imitator or competitor? I could find the exact date by ploughing through my driving logs but that would be a lot of paper. We ahd something like that happen in Nottingham with camera shops named Colwyn Cameras and Cameo Cameras. Not sure if they were related or competitors or just avoiding the creditors. They eventually closed and an auction house (I think) had a closing sale. Regards, Ian. Regards, Ian. [snip] > I visited the shop in Clay Cross around 2003 ~ 2004 so I wonder if that was > an imitator or competitor? I could find the exact date by ploughing through [quoted text clipped - 3 lines] > competitors or just avoiding the creditors. They eventually closed and an > auction house (I think) had a closing sale. Cameo Cameras ISTR were one of the many camera shops in Cambridge who started expanding then died - but I could be wrong of course! SignatureWoody harrogate3 at ntlworld dot com > [snip] >> [quoted text clipped - 12 lines] > Cameo Cameras ISTR were one of the many camera shops in Cambridge who > started expanding then died - but I could be wrong of course! Hello Woody. Thanks - I always thought of Cameo Cameras as being simply a Nottingham company. If the shop in Nottingham was originally Colwyn Cameras and then became Cameo Cameras then we can see what happened. By the way, as well as a double-fronted shop in Nottingham there was also a kiosk in a market in one of the main shopping centres. I think that the kiosk used the Cameo name befor ethe shop did. Regards, Ian. > > [snip] > >> [quoted text clipped - 20 lines] > kiosk in a market in one of the main shopping centres. I think that the > kiosk used the Cameo name befor ethe shop did. My apologies - I realised the morning after I sent that post that I was getting mixed up with Campkins. However Cameo were a family business that had a shop in the middle of Sutton-in-Ashfield where I once bought a camera - an Olympus 35SP f1.7 rangefinder beasty that I still have and that still works perfectly. IIRC it cost me £56 in the mid '70s! SignatureWoody harrogate3 at ntlworld dot com > > > [snip] [SNIP] > > Hello Woody. Thanks - I always thought of Cameo Cameras as being > > simply a Nottingham company. If the shop in Nottingham was [quoted text clipped - 4 lines] > > also a kiosk in a market in one of the main shopping centres. I think > > that the kiosk used the Cameo name befor ethe shop did. Hmmm, yes, I remember them too. Had forgotten just how many good camera shops there used to be in Nottingham. None now, really. > My apologies - I realised the morning after I sent that post that I > was getting mixed up with Campkins. [quoted text clipped - 3 lines] > f1.7 rangefinder beasty that I still have and that still works perfectly. > IIRC it cost me £56 in the mid '70s! Probably worth a bit more than that now, though it's hardly kept pace with inflation! Wonderful lens on the SP, and where else would you get a rangefinder with a spot-meter? - I love mine. Peter >Hmmm, yes, I remember them too. Had forgotten just how many good camera >shops there used to be in Nottingham. None now, really. Thanks to Jessops, that is true of many major towns and cities. >>Hmmm, yes, I remember them too. Had forgotten just how many good camera >>shops there used to be in Nottingham. None now, really. > > Thanks to Jessops, that is true of many major towns and cities. Hi everyone. I remember a vsiit to Sheffield only a few years ago and finding a camera shop with about six assorted enlargers in stock. I felt really sorry for the shop because those enlargers must have been worth a reasonable amount of money a decade or so ago but now ......... Regards, Ian. Tony Polson <tp@nospam.net> observed >I could never forgive Doxins for buying a very good camera shop, >Wallace Heaton of Bond Street, London W1, and turning it into just >another mediocre Doxins store. But Jessops have commited exactly the >same atrocity with hundreds of independent camera shops nationwide. Nice to agree with you, Tony. My first 'serious camera' (!) a 127 Luxette, was bought from WH by my father for me (in 1954). Then I just couldn't believe from their catalogue that a Leica M3 *without* a lens cost £110/7/6! It took me 10 years to save up for one, by which time I worked round the corner from WH, and was a frequent visitor to the store. I still have much of the darkroom equipment I bought from them. I, too, was sad - if not angry - at the demise of a really serious and good and helpful camera store, but that was after I'd move to the North West in 1976. Mike [The reply-to address is valid for 30 days from this posting] SignatureMichael J Davis <>< Some newsgroup contributors appear to have confused the meaning of "discussion" with "digression". <>< |
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