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Levy process

"it Is Saturday Today, Isn't It?"

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I was out in central London yesterday. Walked around a bit in the main shopping areas: sale city. Nearly every shop had "massive reductions". Fair enough. But, the sales weren't exactly pulling the crowds; a lot of the shops were empty.

Went on to some of the parks in central London: hardly anyone there.

Later went to one of the popular big chain restaurants for an early sitting, around 6:00. The place had about 40 tables. During the time I was in there, never more than 4 had anyone at them. Overheard one of the waiters saying "It is Saturday today isn't it? Where is everybody?"

Is it just me, or is high street spending starting to dry up just a little?

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I was out drinking on Northcote road in Clapham on Friday evening.

Often outside the Fine Line there is a crowd on the pavement, but this weekend you could still find place to sit.

Very unusual. A few of the bars seemed particularly quiet for a Friday evening.

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I was out in central London yesterday. Walked around a bit in the main shopping areas: sale city. Nearly every shop had "massive reductions". Fair enough. But, the sales weren't exactly pulling the crowds; a lot of the shops were empty.

Went on to some of the parks in central London: hardly anyone there.

Later went to one of the popular big chain restaurants for an early sitting, around 6:00. The place had about 40 tables. During the time I was in there, never more than 4 had anyone at them. Overheard one of the waiters saying "It is Saturday today isn't it? Where is everybody?"

Is it just me, or is high street spending starting to dry up just a little?

I noticed exactly the same thing when I went to a local retail park recenty...It would normally be really busy on a weekend. I think all the debt people are in is really starting to bite..Doesn't look like a quarter per cent drop in rates is pulling the crowds in to me.

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To counter balance though, it is summer. Summer sales are traditional.

Unfortunately, 'sales' have increasingly become more farcical over the last ten years. Look at DFS. I cannot every remember a time when you didn't get 'less than half price on everything' oh, and '4 years interest free credit with nothing to pay for a year'.

It's an arms race.

****** the pretense. Ignore the bright orange stickers. Look at the actual price you have to pay and decide for yourself if you think it's a bargain.

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I was out drinking on Northcote road in Clapham on Friday evening.

Often outside the Fine Line there is a crowd on the pavement, but this weekend you could still find place to sit.

Very unusual. A few of the bars seemed particularly quiet for a Friday evening.

Now see I have to argue with that. Technically I believe that Northcote rd is in Battersea. Don't you agree?

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Now see I have to argue with that. Technically I believe that Northcote rd is in Battersea. Don't you agree?

On what technical basis? That it has an SW11 postcode?

When I meet up with friends, I don't go by postcode. It isn't appropriate.

The area is colloquially know as Clapham.

That is appropriate for the circumstance.

To be technically correct it's in Wandsworth.

Don't you agree?

Edited by BandWagon

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To counter balance though, it is summer. Summer sales are traditional.

Unfortunately, 'sales' have increasingly become more farcical over the last ten years. Look at DFS. I cannot every remember a time when you didn't get 'less than half price on everything' oh, and '4 years interest free credit with nothing to pay for a year'.

It's an arms race.

****** the pretense. Ignore the bright orange stickers. Look at the actual price you have to pay and decide for yourself if you think it's a bargain.

Agree with you about DFS, but I would say the majority of shops on the high street are slashing prices on this years unsold stock. The price reductions I have seem are quite substantial, suggesting that this years sale is a little different from previous years. I've seen a lot of stuff with 50 or 70% off the original price...Plenty of bargains to be picked up

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"Is it just me, or is high street spending starting to dry up a little?"

No, Levy Process. A lot, and it's just the beginning. I wouldn't want to be owning a bar cum restaurant, paying out a fortune in rent and rates when the consumer's all tapped out.

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Guest Charlie The Tramp

What`s new?

It all started Christmas 2004.

Denial has now passed. The reality of the situation can no longer be hidden.

The MPC`s responsibilty is also to stop debt getting out of control and that being a hidden agenda. Hence Kings remarks about the future direction of IRs, now that was a shock to the pundits. Debt was always the trigger for this recession and HP correction.

Recession, unemployment = Large correction in HPs. <_<

So the BoE have now admitted that the serious debt problem could put the UK economy in recession.
Edited by Charlie The Tramp

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On what technical basis? That it has an SW11 postcode?

When I meet up with friends, I don't go by postcode. It isn't appropriate.

The area is colloquially know as Clapham.

That is appropriate for the circumstance.

To be technically correct it's in Wandsworth.

Don't you agree?

Clapham Junction is in Battersea & Northcote rd is in battersea.

Clapham is just a trendy name given by the youth culture because it's more widely known than Battersea.

Clapham IMO is more accurate for the real Clapham which is east of Clapham Common.

Ask a local homeowner if they live in Battersea or Clapham & they'll say Battersea. Ask a tenant & they'll say Clapham in most cases.

Strange isn't it? I'm not trying to pick a fight BTW, just wanted to point it out.

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Let's just be absolutely clear about high-street spending - when the BRC come out and whinge about falling sales, the measure they quote is like for like i.e. company A had 50 shops last summer but opens another 2 during the year - sales for those 50 stores are down but they don't include extra sales from the 2 new stores - sales for all 52 stores are UP against sales for the original 50 - people are still spending more than last year, even though profits for some companies may be down as they are having to reduce margins to get turnover

as yet, there is no retail recession

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don't 4get

Hundreds of thousands are losing their low rate fixed mortgage status and mortgage repayments are shooting up by Hundreds for them.

I would have thought THEY would also be the ones who would normally be spending loads and eating out.

Feel good factor is now floored!

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Clapham Junction is in Battersea & Northcote rd is in battersea.

Clapham is just a trendy name given by the youth culture because it's more widely known than Battersea.

Clapham IMO is more accurate for the real Clapham which is east of Clapham Common.

Ask a local homeowner if they live in Battersea or Clapham & they'll say Battersea. Ask a tenant & they'll say Clapham in most cases.

Strange isn't it? I'm not trying to pick a fight BTW, just wanted to point it out.

correct. my grandmother had a house on mallinson road she always says she used to live in battersea, not clapham.

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as yet, there is no retail recession

Not sure if they're just whining for effect, but the local paper in the town where I work had a front page article recently on how badly the high street stores are doing: rising rents, reduced sales, lots of them closing down.

Of course the fact that the council 'pedestrianised' the town center (so no more parking outside the shop and nipping in quickly to buy what you want) and doubled car park prices probably didn't help.

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Clapham is just a trendy name given by the youth culture because it's more widely known than Battersea.

You old charmer.

Careful you don't make complimenting HPC'ers a habit, we'd hate to lose you.

I do agree about the rent/buy thing, many owners in this area will be aspiring to live across the river in Chelsea, while the renters are here for the nightlife and buzz.

And some of the best transport London has to offer (how sad is that?)

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Clapham Junction is in Battersea & Northcote rd is in battersea.

Clapham is just a trendy name given by the youth culture because it's more widely known than Battersea.

Clapham IMO is more accurate for the real Clapham which is east of Clapham Common.

Ask a local homeowner if they live in Battersea or Clapham & they'll say Battersea. Ask a tenant & they'll say Clapham in most cases.

Strange isn't it? I'm not trying to pick a fight BTW, just wanted to point it out.

As a local, I have to agree with TTRTR on this one, although I am not sure of the link between homeowning status. Northcote Road is in Battersea. Unfortunately, 'trendy' newcomers do have an influence on local names.

Edited by Buffer Bear

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Not sure if they're just whining for effect, but the local paper in the town where I work had a front page article recently on how badly the high street stores are doing: rising rents, reduced sales, lots of them closing down.

Of course the fact that the council 'pedestrianised' the town center (so no more parking outside the shop and nipping in quickly to buy what you want) and doubled car park prices probably didn't help.

that's the thing though - we have to separate company profits out from what people are spending and borrowing - when the BRC says it wants further interest rate cut it means it wants them so that people will buy things at full (price) margin - people are still spending en masse (at least according to the July figures), however, because much of what they buy is heavily discounted, SOME retailers are struggling - on the other hand, look at profits at Monsoon

additionally, retail floorspcae is growing dramatically - retailers are developing stores for a continued boom - it's no wonder they are squealing

Edited for the usual spelling errors

Edited by the end is nigh

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All I see is strange things happening.

Two very busy bars have closed in Glasgow city centre in recent weeks: Praha and Slug and Lettuce. These venues are packed Fri/Sat and have abruptly shut up shop. Story here:

http://www.eveningtimes.co.uk/hi/news/5041873.html

Havana (which has also closed) wasn't as busy and would have had a high rent also since it is in the central station building.

I walk past a women's hair salon most mornings and evenings and it is still packed out on a Fri/Sat (presumably making themselves beautiful on the off chance they meet me ;) ).

I do find that the shops are quieter, but haven't really seen a downturn in the pub/club business.

It is summer and a lot of peeps can clearly still afford a holiday. How else could I explain the less busy trains? Either that or nobody can afford to leave the house any more!

NDL

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Clapham Junction is in Battersea & Northcote rd is in battersea.

Clapham is just a trendy name given by the youth culture because it's more widely known than Battersea.

Clapham IMO is more accurate for the real Clapham which is east of Clapham Common.

Ask a local homeowner if they live in Battersea or Clapham & they'll say Battersea. Ask a tenant & they'll say Clapham in most cases.

Strange isn't it? I'm not trying to pick a fight BTW, just wanted to point it out.

Funniest post yet.

More please!

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Good points being made all round.

When retailers increase floorspace and consumer spending is either static or falling, that's a recipe for disaster for retailers. NEXT will soon be issuing profit warnings soon, precisely because of the above. **** is going under as I write, and it won't be bought out by anyone with a brain cell.

The cut in interst rate hasn't affected a thing and it'll be quite amusing when the BRC and all the property people realise this and clamour for yet another ininterest rate cut, and so and on...... As I've said elsewhere, debt is increasing because there's no inflation. If people haven't got any money, that's that.

Someone made the point it all started last December, and they're right. But there are plenty of people around London who reckon that they're going to strike it rich with another 'trendy' bar, resturant, club etc. Oh dear...

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      • down 5% +
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