Electrical
The latest news, updates and analysis on the electronic goods segment of the the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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Apr- 2020 -24 April
Gear 4 Music reports 9% increase in FY sales despite Covid-19 impact
Musical instruments retailer, Gear 4 Music has reported a 9% increase in sales to £120.3m amid the Covid-19 pandemic. In its full year figures ended 31 March 2020, the retailer reported a 5% increase in UK sales to £61.8m compared with £58.9m in 2019. Sales in Europe and the rest…
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Mar- 2020 -4 March
Dixons Carphone appoints two new members to its executive team
Dixons Carphone has strengthened its executive team by appointing a former John Lewis Partnership exec to the role of CCO while also adding a new COO. Ed Connolly has taken up the role of chief commercial officer after previously holding a number of roles across commercial and strategy at the…
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Jan- 2020 -30 January
Deloitte fined £1m over handling of Comet administration
‘Big Four’ accountancy firm Deloitte has been fined £925,000 for its handling of electrical goods retailer Comet’s administration in 2012. Deloitte and two of its partners, Neville Kahn and Christopher Farrington, have been sanctioned by the accountancy watchdog and have also agreed to pay the costs of the Institute of…
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2 January
Brighthouse reports £16m loss
Brighthouse has reported a £16m loss in its financial quarter to 28 September 2019. The rent-to-own retailer made a loss of £16m for its second quarter compared with £11m for the same period in 2018. EBITDA loss for the quarter was £3.2m compared with £1m last year. During the period,…
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Sep- 2019 -18 September
Vodafone extends franchise operation with 24 new high streets stores
Vodafone is set to take on at least 24 empty premises by the end of this year and fit them out as new retail stores as part of its franchise programme. Vodafone is continuing its ongoing investment in its retail presence to “help customers get the most from its new…
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6 September
Dixons Carphone bosses face backlash from investors over pay
Consumer electronics retailer Dixons Carphone is facing backlash from investors afters its AGM yesterday (5 September), over the pay and bonuses received by its management team. According to Sky News, it comes after the group’s CEO Alex Baldock was awarded shares worth over £2.3m earlier this year under a long-term…
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5 September
Dixons Carphone sales increase despite mobile sales decline
Consumer electronics retailer Dixon Carphone has reported an increase in like-for-like sales for Q1, following “strong” performance in white goods, tablets and gaming. During the 13 weeks to 27 July, UK and Ireland like-for-like sales increased by 2%. International sales also increased by 4%, with a 4% rise in the…
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Jun- 2019 -26 June
Gear4music swings to almost £600K loss despite sales spike
Music equipment and instrument retailer Gear4music has posted losses before tax of £600,000 for the 13 months ended 31 March 2019. EBITDA also declined to £2.3m during the period, £1.2m lower than 2018. Despite this, revenue increased by 48% to £118m during the period, compared with £80m recorded the previous…
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20 June
Dixons Carphone shares plunge amid full-year loss
Consumer electronics retailer Dixon Carphone saw profits plunge by up to 28% this morning, after posting full-year losses for the year to 27 April 2019. Shares in the retailer, which owns Carphone Warehouse and Currys PC World, have since recovered slightly to 11% down from opening. It comes after it…
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Mar- 2019 -13 March
Dixons Carphone fined £29m for mis-selling ‘Geek Squad’ product
The Financial Conduct Authority (FCA) has fined Carphone Warehouse £29,107,600 for failings that led to the mis-selling of ’Geek Squad’, a mobile phone insurance and technical support product. The watchdog found The Carphone Warehouse failed to give its sales consultants “the right training to give suitable advice” to customers purchasing…
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