Latest news with #TimShattock
BBC News
10 hours ago
- Business
- BBC News
Jarrolds boss assures staff that Cromer store is not closing
Staff at a long-established department store outlet have been assured that another shop closure is not being is closing the book department of its four-floor store in Norwich, citing the struggle to compete with national and online Cromer store primarily sells books, however Tim Shattock, the firm's managing director for trading, insisted the coastal shop was "not at risk".It follows the closure of its shop in Wymondham last September - and a move to cut the hours of around 70 staff earlier this year. Speaking to BBC Radio Norfolk, Mr Shattock said: "I think it comes down to how you work with scale. "We obviously have a large store with large operating costs in Norwich and we also have a multi-department offer."If you're dedicated to books and you're operating either as a large bookseller - as a Waterstones where you've got scale to combat some of the price and availability - or if that's actually the main area of focus, like some of the excellent independent book shops."That's where Cromer exists for us. It leads with books and has a very good book business. It has a very good customer base, with not huge amounts of competition, like Norwich." 'Difficult decision' The book department of the Norwich store is set to close at the end of August after a sale of existing Shattock did not confirm if any staff would be made redundant but said: "With any business change we have to prioritise any colleagues affected and I know the team at Jarrolds are working with them to manage that."Jarrolds appears to be in a healthy position financially, according to its most recent annual accounts to the end of January dipped very slightly to £31.8m but a £6m profit represented a 19.1% gross profit margin. The average number of employees also fell very slightly to 398 from 419 the previous the firm's long history as a publisher and a book seller, Mr Shattock admitted the department had faced challenges since the rise of online retailers at the turn of the millennium."We're very proud of our history as a bookseller in Norwich and books as a whole in the company, we're also very thankful to our loyal customers who have been on the journey with us," he said."So I understand that this decision is a difficult one and tricky for some customers to understand."In the department store we operate in a number of different categories and whilst we're seeing some really good growth in some and some really strong demand, this [books] has been a challenging market for us for a number of years."We've managed to nurture the department over the last two decades and managed that decline, it's got to the point where we need to think about the future and make a difficult decision on our portfolio."Mr Shattock said growth could be found in innovative areas, such as the food hall and beauty retreat rooms."We're seeing that innovation in other categories that we're finding very difficult to replicate in books," he said. Follow Norfolk news on BBC Sounds, Facebook, Instagram and X.
Yahoo
2 days ago
- Business
- Yahoo
City centre store decides to close book department
A city department store has announced a major change to its layout. Jarrolds has decided to close the book department on the third floor of its long-established London Street store in Norwich. An internal email sent to staff on Monday, seen by the BBC, explained the decision was made "with a great deal of sadness". The company, which has operated in Norfolk for more than 200 years, said it was no longer viable to compete with national and online booksellers. Jarrolds has not yet confirmed if any staff would be made redundant because of the decision but said its book department would likely close at the end of August following a sale of existing stock. Tim Shattock, the firm's managing director for trading, said: "Jarrolds is proud of its heritage as a printer and bookseller, and we are pleased to have played a significant role in supporting and promoting many local authors and publishers during our long history. "However, as with every category of retail, the world of book selling has changed dramatically over recent years. "With large supermarkets and online retailers taking a large proportion of the book market, the sector has grown increasingly challenging, with very tight margins. "Unfortunately, Jarrolds simply cannot compete with national chains and online stores." The decision follows the Norfolk company's move to cut the hours of about 70 staff to combat rising costs and the closure of its Wymondham store last September. Mr Shattock explained that the toy department on the third floor would be extended, alongside the current travel agency and restaurant remaining. Some space will be "repurposed" for storage though. He added: "This has not been an easy step to take, but it is the right commercial decision for the business." The business also offers a food hall, wine bars, restaurants, coffee shops, personal shopping services and its Retreat day spa. Follow Norfolk news on BBC Sounds, Facebook, Instagram and X. Department store wants to cut hours for 70 staff Prominent former mill could become 88-bed hotel Store to close after change in High Street - owner The history of Jarrolds
BBC News
2 days ago
- Business
- BBC News
Jarrolds store in Norwich city centre to close book department
A city department store has announced a major change to its has decided to close the book department on the third floor of its long-established London Street store in internal email sent to staff on Monday, seen by the BBC, explained the decision was made "with a great deal of sadness".The company, which has operated in Norfolk for more than 200 years, said it was no longer viable to compete with national and online booksellers. Jarrolds has not yet confirmed if any staff would be made redundant because of the decision but said its book department would likely close at the end of August following a sale of existing Shattock, the firm's managing director for trading, said: "Jarrolds is proud of its heritage as a printer and bookseller, and we are pleased to have played a significant role in supporting and promoting many local authors and publishers during our long history."However, as with every category of retail, the world of book selling has changed dramatically over recent years."With large supermarkets and online retailers taking a large proportion of the book market, the sector has grown increasingly challenging, with very tight margins."Unfortunately, Jarrolds simply cannot compete with national chains and online stores."The decision follows the Norfolk company's move to cut the hours of about 70 staff to combat rising costs and the closure of its Wymondham store last Shattock explained that the toy department on the third floor would be extended, alongside the current travel agency and restaurant remaining. Some space will be "repurposed" for storage added: "This has not been an easy step to take, but it is the right commercial decision for the business."The business also offers a food hall, wine bars, restaurants, coffee shops, personal shopping services and its Retreat day spa. Follow Norfolk news on BBC Sounds, Facebook, Instagram and X.
