I know people who actually miss that Government cheese. My aunt was once poor enough to qualify for direct food aid. She once gave us one of those 5 pound blocks. It wasn’t great, but it was better than Velveeta. The greatest thing about it is that you could cut it up into manageable chunks and freeze the chunks you weren’t going to immediately use.
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Designer brands are NOT your friends.
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I knew a guy who was in the business of disposing of products in markets where there was no market for buying item at retail. Eg third world countries would get last years electronic gizmos sold for a price low enough that some could afford, but high enough that it wasn’t economically feasible to divert them back to the west.
The value he added for the manufacturer was a strict verifiable documentation of where they got dumped, and connections to reputable sellers who would limit sales quantities and keep good record.
There must be some block chain dreamers working on this right now. And meanwhile the old fashioned approach of lots of diligence works just fine.
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Roger that.
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Is that a lot? That stuff is pretty overpriced.
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Someone earlier said a lot of this was perfume. I have no idea if that’s true, but let’s assume it is. I looked on Burberry’s website, and a typical price is in the neighborhood of $100 for a 100 ml (3.4 oz) bottle. Close enough for us to call it $100 to make the math easy. Actually, we’ll call it £100 just to make the math super easy. It’s off, of course, but we’ll be in the right order of magnitude. So, £28.6 mil / £100 a bottle = 286,000 bottles of perfume, as a conservative estimate.
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The report reads:
The cost of finished goods physically destroyed in the year was £28.6m (2017: £26.9m), including £10.4m of destruction for Beauty inventory.
In terms of sales, Beauty is responsible for just 7 percent of revenues.
Yet, it’s responsible for over one third of inventory destruction?
All to thwart these girls?
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something the a little frustrating to me is that burberry’s language sounds boilerplate. “Cost of goods physically destroyed”. Yet a google search reveals little more than pages excoriating Burberry for engaging in a common business practice.
We know Nike does this. Is it mentioned in their annual report? If so, where?
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they’re the ones who claim to be beyond common and therefore worth more
To be fair, burning is the best possible choice when faced with the question “What shall I do with all this Burberry clothing?”
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Shop like Common people, then.
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it’s just hard to determine volume from dollar figures is the hard time I am having! Is that more than 3,000 liters? 
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Was just checking on this.
The government cheese program was started as a subsidy to the dairy industry? And it ended in the 90’s when the dairy industry stabilized.
Was that the GOP justification for killing it?
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Does that story end with De Beers getting into the kryptonite mining business?
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Yeah, that would be the Farm Bill that I’ve been trying to get people to pay attention to. Thank you for bringing it up!
Sadly the Farm Bill is boring, compared to making oneself feel superior by denigrating others.
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