Shop not ship shape
The OUSU shop has been operating at a substantial loss for the past eighteen months, it was revealed last week. Accounts presented at OUSU Council revealed a £5,000 deficit at the end of the last academic year.
The shop, which is situated in Little Clarendon Street, offers students cheap stationery and other student-targeted products. For several years, customer numbers have been declining, prompting the expansion of the College ordering system. JCRs can buy in bulk from the shop and then sell directly to students within their own colleges, an idea that is popular amongst students. As Gideon Burke of Magdalen remarked, "The shop is good and really cheap, but it's often not worth the trek. It's quite far away, especially if you don't own a bike."
Although the shop is not intended to make large profits, major losses are not sustainable. Eleanor Fletcher, OUSU VP-Finance, told the OxStu that it is too soon to predict the future of the shop. However, she insisted that, "It can't go on running at a loss. Major reforms in procedures are needed."
OUSU have given a loan to cover the amount lost, which will help pay staff salaries. This is in addition to the £10,000 permanent loan they granted to the shop when it first opened, which has not yet been repaid.
Fletcher has also promised that prices will not rise as a result of the shop's financial difficulties, due to the fact that this would take away the incentive for students to make use of the service.
21st Feb 2002