[00:00.000]The big clothing retailer Sangra is currently in the news,[00:04.063]and here to talk about its difficulties is retail analyst John Sergeant.[00:09.299]Hello.[00:10.124]John, why have Sangra's sales fallen so much?[00:14.223]Well, they've started using top designers,[00:17.130]but it takes too long to get the designs from the drawing board into the shops.[00:21.456]Sangra haven't realised that fashion trends are moving faster than ever,[00:26.502]and they need to react much more quickly.[00:28.833]As a result, they aren't attracting younger shoppers.[00:32.929]It really makes little difference who designs their clothes[00:36.235]or what the stores look like[00:37.820]if people don't feel like going in.[00:40.323]They've been very short-sighted, haven't they?[00:42.908]That's right.[00:43.938]Sangra's strength is in the middle market,[00:46.916]but shoppers now want either expensive designer labels or low prices.[00:51.543]At the same time,[00:52.795]other stores have started to compete for the same customers,[00:56.539]but are offering lower prices.