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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Feb- 2022 -4 February
Currys begins search to replace Livingston as chairman
Currys, the electrical retailer, has reportedly begun its search for a new chairman to eventually succeed Lord Livingston of Parkhead. According to Sky News, Currys has initiated headhunters to identify potential candidates for Lord Livingston, who has been in the position since 2015. However, it cited sources that said the…
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Jan- 2022 -14 January
Currys lowers profit expectations to £155m amid 10% drop in sales
Currys has lowered its full year pre-tax profit expectations from £160m to £155m following a 10% drop in sales in the 10 weeks ending 8 January 2022, as a result of “unven” consumer demand and supply disruptions. In the UK and Ireland (UK&I), like-for-like revenues in the quarter decreased by…
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Dec- 2021 -15 December
Currys H1 profits hit £48m despite supply issues
Currys has reported that pre-tax profits hit £48m for the six-month period ending 30 October 2021, up from £45m reported the prior year. Despite the profit growth, revenue slowed to £2.5bn, down from £2.6bn the previous year, as the retailer continued to be impacted by supply chain issues. The group…
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Oct- 2021 -29 October
Amazon to spend ‘several billion’ to manage supply shortages
Amazon has warned that it expects to incur “several billion dollars” of additional costs in the upcoming months as supply chain issues hit an all time high. The company said the expenses will be used to manage through labor supply shortages, increased wage costs, global supply chain issues, and increased…
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7 October
Amazon opens first four-star store in the UK
Amazon has announced that it has opened its first four-star store outside of the US which offers a curated range of products in Bluewater, just southeast of central London. The store offers products that have been rated four stars and above, are top sellers, or are trending on Amazon.co.uk. The…
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1 October
AO World hit by ‘challenging’ supply chain issues in H1
AO World has warned that growth in the first half of 2021 has been impacted by the ongoing shortage of delivery drivers and supply chain issues affecting markets across the globe. The online electrical retailer reported a revenue growth of just 5% for the six months ended 30 September 2021,…
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Aug- 2021 -23 August
Currys PC World launches new flexible mobile offering
Currys PC World has announced the launch of its new mobile offering shopping experience, which aims at allowing customers to “take control” when purchasing a mobile plan, device, and accessories. The new offer is rooted in enabling customers to create a flexible approach to mobile ownership, with consumers able to…
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Jul- 2021 -1 July
AO World sees revenues soar 62% in FY21
AO World has seen group revenue soar 62% to £1.7bn in the year ended 31 March, 2021, as the group reaped the benefits of the online shopping shift that was driven by the pandemic over the period. The retailer’s operating profit rose to £30m, up from a £4m loss reported…
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Jun- 2021 -30 June
Dixons Carphone profits reach £33m amid online surge
Dixons Carphone has reported pre-tax profits of £33m for the year ended 1 May 2021, climbing from a £140m loss last year when the group was hit by the effects of Covid-19. Revenue for the period reached £10.3bn and was boosted by a 103% online sales growth to £4.7bn during…
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May- 2021 -14 May
Dixons Carphone rebrands to Currys
Dixons Carphone is set to drop its name as the group rebrands to Currys, with all stores across the business changing their name in the process. Across the United Kingdom and Ireland, Currys PC World, Carphone Warehouse and Team KnowHow will all become a single brand Currys by October 2021,…
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