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Hamleys Dundrum closing down 50% off everything

2

Comments

  • #32
    Muahahaha
    Registered Users, Registered Users 2 Posts: 19,769 ✭✭✭✭Muahahaha


    fleet_admiral wrote: »
    I work across the road and know the centre manager very well. It's happening and they won't be the only big store to close/pull out

    Maplins also closing down so I would say there is something in that.


  • #33
    ted1
    Registered Users, Registered Users 2 Posts: 24,305 ✭✭✭✭ted1


    Muahahaha wrote: »
    fleet_admiral wrote: »
    I work across the road and know the centre manager very well. It's happening and they won't be the only big store to close/pull out

    Maplins also closing down so I would say there is something in that.
    Both ridiculously over priced. Hamleys was many times dearer than symths and mailings was many many times dearer than online stores. Not to many of the other stores have the same price differential


  • #34
    Trigger Happy
    Registered Users, Registered Users 2 Posts: 6,182 ✭✭✭Trigger Happy


    vicwatson wrote: »
    Which set and how much?

    Le Mans kit. It was not marked down but 60 at check out.


  • #35
    Rasputin87
    Closed Accounts Posts: 28 ✭Rasputin87


    xpletiv wrote: »
    Just a poor area to set up; right at the end of the centre. If it were inside itd probably have done a lot better. But overpriced as heck compared to online.

    I live less than a 5 minute drive from Dundrum, and go there several times a month. I never knew Hamley's existed! :o


  • #36
    road_high
    Registered Users, Registered Users 2 Posts: 19,870 ✭✭✭✭road_high


    ted1 wrote: »
    Both ridiculously over priced. Hamleys was many times dearer than symths and mailings was many many times dearer than online stores. Not to many of the other stores have the same price differential

    Yea, for mainstream stuff like Lego etc Hamleys was way more expensive. Anything I ever bought there was their own branded stuff which was on offer. If the rent is 1 million euro per year I can see why they're leaving. Often in there and the tills would be devoid of staff and very few people actually buying anything. Shame as it was a nice store but the pricing was wrong.

    Seems to be another wave of store closures going on now- the online market and the push of discount retailers such as Dealz and Penneys as well as ridiculous rates/rents is causing another cull.


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  • #37
    road_high
    Registered Users, Registered Users 2 Posts: 19,870 ✭✭✭✭road_high


    Was in there last January and things did look ominous. Empty shelves, skeleton staff looked as if it was just about ticking long.


  • #38
    BelovedAunt
    Closed Accounts Posts: 803 ✭✭✭BelovedAunt


    Any lego left lads?


  • #39
    ted1
    Registered Users, Registered Users 2 Posts: 24,305 ✭✭✭✭ted1


    OmegaGene wrote: »
    ted1 wrote: »
    Both ridiculously over priced. Hamleys was many times dearer than symths and mailings was many many times dearer than online stores. Not to many of the other stores have the same price differential

    Yes you are correct
    Hamleys is more expensive than smyths toys
    But smyths toys is more expensive than buying online also
    What’s that got to do with the bargain alert for hamleys

    Bricks and mortar store has more overheads than online shops
    In fairness they are often cheaper than online stores.

    It’s to do with a comment that many more stores are going to be closing


  • #40
    NinjaTruncs
    Registered Users, Registered Users 2 Posts: 2,547 ✭✭✭NinjaTruncs


    BelovedAunt wrote: »
    Any lego left lads?

    There was barely any lego in the shop before Christmas, my wife was in there over the weekend and said there was basically none left.

    4.3kWp South facing PV System. South Dublin



  • #41
    bk
    Moderators, Motoring & Transport Moderators, Technology & Internet Moderators Posts: 23,696 Mod ✭✭✭✭bk


    Brexit, if you just have one or two shops in Ireland, it probably won't be worth it post-Brexit, due to the cost overhead of accounting, currency, import/export duties, etc.

    On the other hand, it isn't all bad news. Good opportunity for local Irish companies and many mainland European companies are looking at coming here after British companies leave.

    For instance Decathlon, the massive French sports goods store is looking to open 9 stores here.


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  • #42
    vicwatson
    Registered Users, Registered Users 2 Posts: 28,404 ✭✭✭✭vicwatson


    OmegaGene wrote: »
    With the amount of stores hamleys have worldwide I don’t think they are in trouble financially just a crap location and smyths are popping up everywhere dominating the market
    I’ve been to dundrum loads of times and didn’t even know it was there

    Charging too much = people go to smyths


  • #43
    bk
    Moderators, Motoring & Transport Moderators, Technology & Internet Moderators Posts: 23,696 Mod ✭✭✭✭bk


    OmegaGene wrote: »
    With 26 stores in the uk and 90 worldwide loacations from Dubai to Africa I doubt Brexit is the reason for closing that shop in dundrum more like crippling rents

    And you don't think they are paying crippling rents in Dubai or London!!


  • #44
    Mark Hamill
    Registered Users, Registered Users 2 Posts: 7,834 ✭✭✭Mark Hamill


    At €2/100g, there where the cheapest for Jelly belly jellybeans. And it was pick'n'mix too, so you could make sure to only get the good flavours.


  • #45
    road_high
    Registered Users, Registered Users 2 Posts: 19,870 ✭✭✭✭road_high


    OmegaGene wrote: »
    With the amount of stores hamleys have worldwide I don’t think they are in trouble financially just a crap location and smyths are popping up everywhere dominating the market
    I’ve been to dundrum loads of times and didn’t even know it was there

    I don't think they have many stores worldwide, just a few in select places. The only one I've seen in England was the original in London (which is super expensive btw). Their website list Dublin as a UK store...! (which is not unusual for the English!!)


  • #46
    road_high
    Registered Users, Registered Users 2 Posts: 19,870 ✭✭✭✭road_high


    bk wrote: »
    Brexit, if you just have one or two shops in Ireland, it probably won't be worth it post-Brexit, due to the cost overhead of accounting, currency, import/export duties, etc.

    On the other hand, it isn't all bad news. Good opportunity for local Irish companies and many mainland European companies are looking at coming here after British companies leave.

    For instance Decathlon, the massive French sports goods store is looking to open 9 stores here.

    It's not Brexit...if that were the case why have a store in Russia etc? They're not in any same economic zone either. No, it's rents and rates that are killing stores here. Someone said a million euro just to rent the unit at Dundrum? That is obscene, especially anytime I've gone in there's hardly a person spending money at a till!
    Also if it's Brexit why are the likes of Superdrug and SportsDirect etc expanding here??


  • #47
    jimmynokia
    Registered Users, Registered Users 2 Posts: 6,467 ✭✭✭jimmynokia


    road_high wrote: »
    It's not Brexit...if that were the case why have a store in Russia etc? They're not in any same economic zone either. No, it's rents and rates that are killing stores here. Someone said a million euro just to rent the unit at Dundrum? That is obscene, especially anytime I've gone in there's hardly a person spending money at a till!
    Also if it's Brexit why are the likes of Superdrug and SportsDirect etc expanding here??

    Its not brexit?? Others think different but who am i to judge http://www.businessinsider.com/toys-r-us-maplin-administration-jobs-at-risk-ceo-blames-brexit-2018-2?r=UK&IR=T


  • #48
    banie01
    Registered Users, Registered Users 2 Posts: 17,871 ✭✭✭✭banie01


    Did they sell their giant Giraffe yet?


  • #49
    CeilingFly
    Closed Accounts Posts: 3,378 ✭✭✭CeilingFly


    jimmynokia wrote: »
    Its not brexit?? Others think different but who am i to judge http://www.businessinsider.com/toys-r-us-maplin-administration-jobs-at-risk-ceo-blames-brexit-2018-2?r=UK&IR=T

    Brexit had nothing to do with maplin. It simply did not keep up with changing retail environment. Way overpriced, a lot of obsolete stock, large retail floors and poor locations.
    Almost the same for Toys r us.

    Former ceo's will always want to blame external sources, but reality is maplin was old and tired. Radio shack suffered the same fate in usa.


    Hamleys just didn't catch the imagination of the Irish consumer and with a massive Smyths store a few minutes up the road in Carrickmines, (paying substantially less rent) it was always on the back foot.


  • #50
    road_high
    Registered Users, Registered Users 2 Posts: 19,870 ✭✭✭✭road_high


    CeilingFly wrote: »
    Brexit had nothing to do with maplin. It simply did not keep up with changing retail environment. Way overpriced, a lot of obsolete stock, large retail floors and poor locations.
    Almost the same for Toys r us.

    Former ceo's will always want to blame external sources, but reality is maplin was old and tired. Radio shack suffered the same fate in usa.


    Hamleys just didn't catch the imagination of the Irish consumer and with a massive Smyths store a few minutes up the road in Carrickmines, (paying substantially less rent) it was always on the back foot.

    Exactly, I liked Hamleys but the range of stock and value compared to a Ken Black/Smyth store wasn't competitive. People aren't going to pay extra for the same item in Hamleys for the privilege of the "Hamleys Experience". I only ever bought stuff on offer or their own branded stuff. For all else they weren't really at the races.


  • #51
    road_high
    Registered Users, Registered Users 2 Posts: 19,870 ✭✭✭✭road_high


    jimmynokia wrote: »
    Its not brexit?? Others think different but who am i to judge http://www.businessinsider.com/toys-r-us-maplin-administration-jobs-at-risk-ceo-blames-brexit-2018-2?r=UK&IR=T

    Why are English stores like Dealz, SportsDirect and Superdrug expanding rapidly here then?


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  • #52
    road_high
    Registered Users, Registered Users 2 Posts: 19,870 ✭✭✭✭road_high


    Ten years ago...one million per annum, mental money.

    https://www.irishtimes.com/business/commercial-property/1-million-rent-for-top-toy-store-hamleys-in-dundrum-1.1216661


  • #53
    okidoki987
    Registered Users, Registered Users 2 Posts: 10,632 ✭✭✭✭okidoki987


    All rent in Dundrum SC is mental!
    Heavy footfall means the owners can charge a fortune and get away with it.
    The fact that 2 people here didn't know Hamleys was in the shopping centre would be a bit worrying to the retailer.
    €1 million in rent is a lot though.


  • #54
    bk
    Moderators, Motoring & Transport Moderators, Technology & Internet Moderators Posts: 23,696 Mod ✭✭✭✭bk


    road_high wrote: »
    Why are English stores like Dealz, SportsDirect and Superdrug expanding rapidly here then?

    Multiple branches throughout the country would mean they have dedicated accounting staff, etc. here. Dealz has almost 50 stores here and SportsDirect 30 stores!

    No one is saying that all British stores are leaving! Just that if you had just one or two stores here, the extra management overhead caused by Brexit may turn a borderline profitable operation here to an unprofitable operation.

    This is given as an explanation as to why Apple have a store in Belfast, but not in Dublin or Cork. Their Belfast store is part of their larger UK operation, thus managed by the UK management staff. Stores in the republic would require a whole new management staff with skills in the Irish market.

    I believe you need at least a couple of stores in Ireland to make it worth the management overhead. One store just isn't worth it.


  • #55
    ted1
    Registered Users, Registered Users 2 Posts: 24,305 ✭✭✭✭ted1


    bk wrote: »
    road_high wrote: »
    Why are English stores like Dealz, SportsDirect and Superdrug expanding rapidly here then?

    Multiple branches throughout the country would mean they have dedicated accounting staff, etc. here. Dealz has almost 50 stores here and SportsDirect 30 stores!

    No one is saying that all British stores are leaving! Just that if you had just one or two stores here, the extra management overhead caused by Brexit may turn a borderline profitable operation here to an unprofitable operation.

    This is given as an explanation as to why Apple have a store in Belfast, but not in Dublin or Cork. Their Belfast store is part of their larger UK operation, thus managed by the UK management staff. Stores in the republic would require a whole new management staff with skills in the Irish market.

    I believe you need at least a couple of stores in Ireland to make it worth the management overhead. One store just isn't worth it.
    That’s nonsense. , look at Dunnes Stores in Spain they are doing well as are many other brands with single stores.
    Lots of English stores put a much higher mark up in Ireland. That’s ehy they eventually close.

    Here’s a tip with house of Frazer you can actually pay English prices online and collect in Dundrum. Works out cheaper


  • #56
    road_high
    Registered Users, Registered Users 2 Posts: 19,870 ✭✭✭✭road_high


    bk wrote: »
    Multiple branches throughout the country would mean they have dedicated accounting staff, etc. here. Dealz has almost 50 stores here and SportsDirect 30 stores!

    No one is saying that all British stores are leaving! Just that if you had just one or two stores here, the extra management overhead caused by Brexit may turn a borderline profitable operation here to an unprofitable operation.

    This is given as an explanation as to why Apple have a store in Belfast, but not in Dublin or Cork. Their Belfast store is part of their larger UK operation, thus managed by the UK management staff. Stores in the republic would require a whole new management staff with skills in the Irish market.

    I believe you need at least a couple of stores in Ireland to make it worth the management overhead. One store just isn't worth it.

    But that's an operational cost issue then, rather than "Brexit".


  • #57
    CeilingFly
    Closed Accounts Posts: 3,378 ✭✭✭CeilingFly


    ted1 wrote: »

    Here’s a tip with house of Frazer you can actually pay English prices online and collect in Dundrum. Works out cheaper

    and House of Fraser are in trouble too and some of their UK stores will close - no word yet on whether Dundrum will close, but it would have to be in the mix due to both it being a poor performer and the costs associated with having just one store in a different market.

    They are expected to go into a CVA (company voluntary agreement - a bit like administration here, but usually prepacked and quicker) in the next few days with KPMG advising them.


  • #58
    bk
    Moderators, Motoring & Transport Moderators, Technology & Internet Moderators Posts: 23,696 Mod ✭✭✭✭bk


    ted1 wrote: »
    That’s nonsense. , look at Dunnes Stores in Spain they are doing well as are many other brands with single stores.
    Lots of English stores put a much higher mark up in Ireland. That’s ehy they eventually close.

    Errr.. Thanks for pretty much proving my point! Dunnes Stores has 5 stores in Spain. 5 large stores is a decent enough size to make it worth it. Plus Spain is in the EU and a Eurozone country, which reduces issues around currency conversion risk, tax, etc.

    Meanwhile Dunnes is closing all their stores in England, partly blaming Brexit:

    https://www.independent.ie/business/irish/samantha-mccaughren-dunnes-shuts-up-shop-in-england-as-last-store-closes-36762573.html
    road_high wrote: »
    But that's an operational cost issue then, rather than "Brexit".

    But Brexit causes more operational costs! Trading between UK and Ireland was always a little risky due to currency conversion. Brexit itself exasperated the currency fluctuations, which can be enough to turn a profitable operation negative and then there is the cost of increased import/export duties and staff costs to handle the paperwork.

    Brexit of course isn't going to shutdown all trade between UK/Ireland. But it will definitely cause increased operational costs. Each business will look at the increased costs and see if the business is still profitable after the increased costs and if not close down. Smaller operations, with just one or two stores here would be under greater risk then say Boots or Tescos with massive operations here and hundreds of stores.


  • #59
    road_high
    Registered Users, Registered Users 2 Posts: 19,870 ✭✭✭✭road_high


    CeilingFly wrote: »
    and House of Fraser are in trouble too and some of their UK stores will close - no word yet on whether Dundrum will close, but it would have to be in the mix due to both it being a poor performer and the costs associated with having just one store in a different market.

    They are expected to go into a CVA (company voluntary agreement - a bit like administration here, but usually prepacked and quicker) in the next few days with KPMG advising them.

    House of Fraser are again just too expensive. Take a trip to Kildare Village and get the same stuff for much less.


  • #60
    road_high
    Registered Users, Registered Users 2 Posts: 19,870 ✭✭✭✭road_high


    Mention of restructuring at HoF alright. No mention of the Dublin store;
    https://www.irishtimes.com/business/retail-and-services/house-of-fraser-looks-at-restructuring-to-cut-costs-1.3468148

    I've been in their stores in England and Scotland and they are expensive too.


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  • #61
    the corpo
    Registered Users, Registered Users 2 Posts: 1,813 ✭✭✭the corpo


    Just in Dundrum, Urban Outfitters has a closing down sign in the window now too, and it looks like the recently re-located Cath Kitson store is also closed.


    Yikes!


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