Wiggle warehouse theft

noiseboyfeetman
noiseboyfeetman Posts: 719
edited August 2011 in The bottom bracket
I apologise if this already been posted elsewhere in one of the forums, or even this one but I thought people might be interested......

The wife found this news article about a Wiggle employee selling stuff on ebay, maybe it wasn't Wiggle after all but Mr James!

I don't know how this would hold up if you bought stuff off him and needed to claim under guarantee.

http://www.portsmouth.co.uk/news/local/east-hampshire/portsmouth_man_jailed_after_selling_80_000_of_stolen_goods_on_ebay_1_2927812
Road - http://www.bikeradar.com/forums/viewtopic.php?f=40044&t=12777154&p=16943702#p16943702

Commuter - http://www.bikeradar.com/forums/viewtopic.php?f=40044&t=12877017&p=17855019#p17855019

MTB - http://www.bikeradar.com/forums/viewtopic.php?f=10017&t=12930006&p=18407199#p18407199

Comments

  • guinea
    guinea Posts: 1,177
    Guy from my office offered sales from the work stationery catalogue on ebay.

    Then then ordered the stuff that ebayers bought and sold it on.

    He was the postie so he dealt with it coming in and even managed to post everything free. He made a fortune.
  • guinea
    guinea Posts: 1,177
    Oh, and wiggle would be quite within their rights to take all of the gear back from those that bought it.

    It wouldn't be a good PR move, but neither would admitting in court that you add almost 100% mark up on your gear.
  • McBoom
    McBoom Posts: 78
    guinea wrote:
    It wouldn't be a good PR move, but neither would admitting in court that you add almost 100% mark up on your gear.

    There's nothing surprising about that. There are lots of other costs to be factored in before you see the profit.
  • Percy Vera
    Percy Vera Posts: 1,103
    My last few orders from Wiggle had no Haribo's - I wonder was he taking them as well?!!
    Did anyone notice Haribos for sale on eBay??
  • inkyfingers
    inkyfingers Posts: 4,400
    McBoom wrote:
    guinea wrote:
    It wouldn't be a good PR move, but neither would admitting in court that you add almost 100% mark up on your gear.

    There's nothing surprising about that. There are lots of other costs to be factored in before you see the profit.

    Indeed, that's a pretty standard mark up, many companies will aim for higher. Out of mark up you have to pay rent, heat and light, wages, advertising plus a myriad of outher costs of running a business, often there is very little left in the way of profit.
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  • morstar
    morstar Posts: 6,190
    guinea wrote:
    but neither would admitting in court that you add almost 100% mark up on your gear.

    I trust that you work for a charity then!?
  • MattC59
    MattC59 Posts: 5,408
    guinea wrote:
    Oh, and wiggle would be quite within their rights to take all of the gear back from those that bought it.

    It wouldn't be a good PR move, but neither would admitting in court that you add almost 100% mark up on your gear.

    Why would you admit your mark up in court ? especially as it has no bearing on the theft of goods ?
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  • MattC59
    MattC59 Posts: 5,408
    Who will Wiggle blame ??
    Science adjusts it’s beliefs based on what’s observed.
    Faith is the denial of observation so that Belief can be preserved
  • morstar
    morstar Posts: 6,190
    inkyfingers wrote:
    McBoom wrote:
    guinea wrote:
    It wouldn't be a good PR move, but neither would admitting in court that you add almost 100% mark up on your gear.

    There's nothing surprising about that. There are lots of other costs to be factored in before you see the profit.

    Indeed, that's a pretty standard mark up, many companies will aim for higher. Out of mark up you have to pay rent, heat and light, wages, advertising plus a myriad of outher costs of running a business, often there is very little left in the way of profit.

    Don't forget good old VAT either.

    Take an item that has a trade price of £50. After adding your 'rip-off' 100% mark up, you retail this item for £100.

    Tax man takes the first £20 leaving £30 gross margin or 37.5%. Only then do you get to start paying all of the other costs. And don't forget that for every winning line that makes full margin, there are umpteen others that you need to discount to shift.

    I'm sure the owners of Wiggle are doing very nicely thank you, but that is the result of building up a large and successful business, not ripping people off.
  • guinea
    guinea Posts: 1,177
    morstar wrote:
    guinea wrote:
    but neither would admitting in court that you add almost 100% mark up on your gear.

    I trust that you work for a charity then!?

    I don't care how much Wiggle's mark up is.

    I think it's just not a good move going public with the figures.
  • mroli
    mroli Posts: 3,622
    Sorry Guinea - why? Its not as if someone in the trade won't know what Wiggle's mark-up is and I'm sure customers have a pretty good idea too. I don't know why this is even being raised as an issue tbh - why would this even be discussed? Court - Did you nick the item - yes - guilty. Or even, Court - did you buy stolen goods - yes - return them to Wiggle. Where does mark-up come into it?
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  • lateralus
    lateralus Posts: 309
    guinea wrote:

    I think it's just not a good move going public with the figures.

    Inevitable. The prosecution wants to give teh sentencing Judge a measure of the seriousness of the crime. The loss to Wiggle was not what he sold the goods for but the difference between what they paid for them and what they would have sold them for, i.e. retail price.

    The police would have got this information during their investigation and it would have been their decision, not Wiggle's, to use it in Court.

    As others have said, retailers' markups are hardly a big secret and not outlandish once overheads, tax, etc, have been deducted.

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