Re: Edinburgh Woolen Mill
I'm always amazed Edinburgh Woolen Mill is still going. I just can't see how it can survive with so many stores all year round.
So was I, until I gave it some thought. They know what their customers want, and sell it with a decent margin, but still at a price customers will pay, AND they keep an incredibly tight lid on business administration and distribution costs. Maplin clearly knew nothing about what their customers wanted, what price they could charge, but perhaps more importantly their overheads were out of control - EWM Group sold just shy of £600m of gear, against admin and distribution costs of £34m, Compare that to Maplin who sold £230m of gear against admin and distribution costs of £109m.
I suppose EWM have the advantage that their market is far less influenced by internet traders, although a quick look indicates they have a much better website than you'd expect from their shops. Whereas Maplin's website has always been one of the worst going.