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 Post subject: Payless shoe scam!
PostPosted: December 12th, 2018, 9:26 am 
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Location: Milton
This Payless shoe stunt is non political but at the same time it shows beautifully how trump in the US. and ford and the cons in Ontario and scheer's cons on the federal level get people to buy into the horse hockey pucks they are selling.
It is the same scam!
Remember these people who bought into it are well educated and have money to burn.

Jeff



https://www.youtube.com/watch?v=gJdBNYWG4a0

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 Post subject: Re: Payless shoe scam!
PostPosted: December 12th, 2018, 3:14 pm 
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As a merchant I always like to quote the famous Sy Syms tag line........with a slight alteration!

My version..... "An (un)educated consumer is our best customer"

As a merchant I'm am pleased that there seems to be an unlimited supply of the "uneducated".

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 Post subject: Re: Payless shoe scam!
PostPosted: December 12th, 2018, 5:06 pm 
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Joined: June 28th, 2008, 2:06 pm
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Kind of related; a song about consumerism:

"...if you want it, then, they'll sell it to you, in a box so beautiful it blinds your point of view..."

"...they'll wrap it up for twice the price (for bad advice), as long as you keep buying...."



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 Post subject: Re: Payless shoe scam!
PostPosted: December 13th, 2018, 8:26 am 
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Joined: December 29th, 2002, 7:00 pm
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Location: Bancroft, Ontario Canada
At least in business, the amounts of money that people are being overcharged by can be made visible... the cheap Payless shoes being sold as luxury goods showed how shoppers can overpay for high-end brands, but in a real situation, the profits are likely to be lower. A luxury retailer like Tiffany's might make 50% profit on an item sold... this shows up in the financial statements' gross margin, either made public or overseen by a chartered accountant. Nordstrom's gross margin, still high-end but a little lower, comes in at a lower 40%. Going lower, and close to the bottom, are retailers like Walmart and Dollarama where margins and profits get paper thin, maybe only several percent, but the cheapness resulting from lower markups creates much higher volume in sales so in the bigger picture Walmart makes more money than Tiffany's, and becomes a world-dominating business.

Microsoft used to have super high gross margins during the PC boom, something like 80%, and went on to world domination.

With governmental wrongdoings, the situation might be more like being sold a fake Rolex watch, while at the same time being assured that it's the real thing. Lots of that sort of thing in the news lately and maybe more to come.

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 Post subject: Re: Payless shoe scam!
PostPosted: December 13th, 2018, 6:32 pm 
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Dollarama has low margins??????

From the 2018 Q3 report.....

Gross margin was 38.9% of sales, compared to 40.1% (2017)

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 Post subject: Re: Payless shoe scam!
PostPosted: December 13th, 2018, 8:29 pm 
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That's right... Dollarama is making piles of money. That's one I didn't bother checking out. retailers are in the news often that their margins can get to be really thin, maybe as low as 0.5 to 3% which explains why some of them go bankrupt or suffer when times get tough, like Sears, Radio Shack, Zellers. I did say profits and margins there for that one but even with net margin the bottom line with everything else that running the business takes away from sales, even that's high for Dollarama.

Blame it on China's billionaires, thanks for pointing that out.

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