Jim Armitage: Saying 'bah, humbug' to suppliers is not good business
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Outlook What a pity to see Debenhams turning itself into Scrooge & Marley's counting house just a week before Christmas. But well done to the markets for smelling a rat.
It emerged on Tuesday that the department stores' giant wrote to suppliers of its own-branded clobber demanding price cuts of 2.5 per cent. It said it needed them to contribute to its investment plans.
Its justification was that the suppliers will benefit from the extra sales generated from revamped stores, new shops and so on.
The markets, though, can't help feeling bringing in such discounts at its busiest time of the year smacks of desperation.
Shares in Debs, which had already slipped 4 per cent on Tuesday, fell a further 5 per cent yesterday and the company is fast looking like a Christmas loser. Saying "bah, humbug" to the squeals of suppliers may work short term, but it's not a responsible way to run a business. Just ask Scrooge.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments