Maplin News Update: Maplin in Stevenage Closes

Maplin Stevenage Closes

Maplin News Update: Maplin in Stevenage closes. One reporter found that the big storm was not the only thing that had damaged the high street in Stevenage.

A reporter recently recalled the years of his childhood when Maplin allowed his brothers genius for electronics to develop. Now however the shop has closed in Stevenage with a notice in the window that says that the store can still be visited on line. This is a sign of the times as more and more retailers take to the Internet unable to keep up with the tough trading climate on the high street.

Without customers to support the high cost of having a store front on the high street no business can survive and as more of us prefer to sit back in our chairs at home and shop on line it is getting harder for the high street merchants to keep their heads above water.

The fate of the store in Stevenage high street is just the tip of the iceberg as many businesses are losing their foot hold in the face of the unstoppable avalanche of the internet. The cost of staffing and of business rates, of heating and lighting the stores that we have got used to seeing on our high streets looks very unappealing when it is compared to trading on the Internet that has far fewer overheads.

Maplin News Update

Earlier this year Maplin declared that profits had taken a hit during the first year of the growth investment plan that it had in place. This comes, as the electronics giant are looking overseas for future expansion. Operating profits in the quarter to April of this year were down to seventeen million a fall of over thirty three per cent as the electronic retailer put money into a revamp programme and into new stores.

The investment plan has been running for just a year of its planned three and a half year planned course. The figures for like to like sales also fell O.2% due in part to the tough trading climate on the high street. There was, however, a slight improving trend in the second half of the financial year.

The Chief Executive of Maplin, John Cleland remarked that the retailer, who has two hundred and five stores, said that the trading environment had been very difficult and that the poor weather at the beginning of the year had affected the number of shoppers on the high street. The retailer has plans to open stores in Australia, Pakistan, South Africa and in the Middle East.

Contact the Maplin customer service department for more information on your local store.

5,633 total views, 1 views today

Related Posts

Barclaycard Spending October Slump

Barclaycard News Update: October Sales Slow

Barclaycard News Update: Barclaycard say that consumers have been holding...

Thorpe Park Crash Pad

Thorpe Park News Update: Stay Over at Thorpe Park

Thorpe Park news update: Travelling for a day of rollercoaster-oriented...

Sky News Update: Be Unlimited Switch Customers To Sky

Sky News Update: This article looks into the transition of...