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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Jun- 2018 -5 June
AO World reports profitability on track for 2021 despite heavy losses
AO World has insisted it is still on track to be profitable by FY21 despite reporting a group operating loss of £16.2m up from £12m the previous year. The online electronics retailer has posted its full-year results for the period ending 31 March in which adjusted EBITDA was -£3.4m, a…
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Apr- 2018 -25 April
Argos chastised by ASA over raising prices to include ‘free’ add-ons
The Advertising Standards Agency (ASA) has warned Argos after it was found raising prices to cover the cost of supposedly ‘free’ extras. The advert in question was for a Canon Powershot SX620 camera priced at £179.99, in which further text said the camera came with a free 16GB SD card…
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Mar- 2018 -16 March
Currys PC World criticised for ‘rip off’ add-on charges
Currys PC World has been criticised for pushing customers into paying up to £40 extra for pre-setup laptops that they did not request. More than 100 customers complained to consumer watchdog Which? about the practice. Despite ordering the laptops online or in store for an advertised price, consumers were then…
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Feb- 2018 -28 February
Maplin and Toys R Us go into administration
Toys R Us and Maplin have both entered administration today, as last minute attempts to save the retailers collapsed. Toys R Us was facing a £15m VAT bill, however poor sales has meant it was unable to pay the debt. All of toy retailer’s 106 stores will continue to trade…
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28 February
Maplin and Toys R Us set to go bust today
Maplin and Toys R Us are reportedly facing collapse today (28 February) after failing to secure buyers. Maplin employs 2,500 staff across its 200 stores in the UK, while Toys R Us employs 3000 staff in its 106 stores. The American owner of Toys R Us filed for bankruptcy last…
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27 February
Maplin rescue talks falter as deadline approaches
Maplin is rushing to find new capital to save it from falling into administration, with talks with a potential buyer stalling. According to Sky News, the electronics retailer is locked in talks with its potential buyer Edinburgh Woollen Mill (EWM) – the high street empire that includes Jaeger and Dorothy…
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20 February
Online retail sales see 13.9% year on year growth
UK online retail sales were up 13.9% year-on-year (YoY) in January, according to the latest figures from the IMRG Capgemini e-Retail Sales Index. With rainfall above average in January, and the lowest January high street footfall recorded in five years, consumers turned to online shopping in the beginning of the…
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20 February
2,500 jobs at risk as Maplin races to avoid administration
Up to 2,500 shop staff jobs are at risk as electrical retailer Maplin tries to avoid administration. Rutland Partners, which took control of Maplin in 2014, is in talks with potential buyers, with pre-pack administration being considered as an option if a sale cannot be completed, according to reports. The…
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Jan- 2018 -30 January
Maplin introduces ‘order now, pay later’ scheme
Maplin has introduced a new scheme that allows it customers to spread out the cost over time or even pay later for items ordered online. The technology retailer has partnered with financial technology supplier Klarna to use their Pay Later and Slice it services. Pay later enables online and mobile…
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23 January
Mark Gifford resigns as Game’s CFO
Video game retailer Game has announced the resignation of its chief financial officer Mark Gifford. Gifford informed the board of his intention to leave so that he can focus on his other business and personal interests. An executive search has commenced to identify a suitable successor to his position. Commenting…
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