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More bad news form Kodak


hmk
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Grim stuff eh!!

27,000 job losses

Kodak shares sink as losses rise

Shares in struggling US camera company Eastman Kodak have sunk 14% after it unveiled a large rise in losses.

With the firm still finding it tough to cope with the move from traditional film to digital photography, its second quarter losses widened by 82%.

For the three months to the end of June, its losses totalled $282m (

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It's important to remember that the manufacturers/wholesalers feel the pinch much further down the line than us retailers. What we are experiencing now won't flow on for months for these guys so the reality of the market is whats happening in our stores now.

We're able to adapt and change much quicker to cope with shifts in demand. The rapid introduction of more photo gifting products into stores is a good example of filling the sales voids left by film and D&P.

Globally Kodak will be feeling the pinch from Konica and Agfa's dumping of their remaindered product. I can't remember when we last paid full price for a roll of paper - but we're only small compared with some of the chains who've been buying container loads. That's probably one factor the analysts don't mention.

And of course Kodak's been lumbered with the legacy issues of all those staff, facilities, real estate etc - long after their competitors had downsized.

I don't think this announcement is reflective of where the industry is going - more so where it's come from.

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