AO World

AO World profits rise amid membership scheme success

AO World has revealed that its adjusted profit-before-tax rose 27% to £44m for the year ended 31 March 2025, up from £34m in the previous year. Alongside this, ​the company’s LFL group revenue grew 7%, to £1.11bn with its core B2C retail revenue rising 12% to £832m. This growth was…

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Today’s news in brief-1/4/25

Retailers are bracing for a £5.56bn rise in costs following the implementation of recent Budget measures, including higher National Insurance contributions and an increased minimum wage. According to Retail Economics, these changes will force businesses to absorb £1.76bn in profit losses while passing £1.72bn onto consumers through price hikes. Chancellor…

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Today’s news in brief-26/3/25

John Lewis is close to securing approval for its housing project in Reading, transforming a former customer collection facility into 215 homes, including 49% family-sized units and 10% affordable rentals. The development, featuring shared workspaces, a gym, and communal areas, is part of an £80m investment in rental housing. A…

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Frasers ups stake in AO World to 25%

Mike Ashley’s Frasers Group has revealed it has increased its stake in fashion retailer  Brown to 25.01%, according to the latest holding documents filed by the company.  It now holds 145,148,997 voting rights in the company.  The news comes as the electrical retailer AO raised its full-year forecast to between…

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Today’s news in brief-31/1/25

Homebase, the DIY retailer that collapsed into administration in November 2024, owes more than £650m to unsecured creditors, including suppliers AO World, Halfords, and The Hut. Administrator Teneo reported total unsecured claims of £657m, with £100m owed to trade creditors. Major debts include £2.9m to Close Brothers for till systems,…

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Homebase owes over £650m to unsecured creditors post collapse

Homebase still owes more than £650m to unsecured creditors, including AO World, Halfords, and The Hut, following its collapse into administration in November 2024.  According to Teneo, the DIY retailer’s appointed administrator, unsecured creditor claims totalled £657m – of which roughly £100m is owed to trade creditors.  With unsecured creditors…

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Today’s news in brief-26/11/24

AO World has raised its full-year profit forecast to between £39m-£44m after reporting a 30% rise in pre-tax profits to £17m for the six months ending 30 September. Despite adverse summer trading conditions due to wet weather, which affected cooling product sales, AO’s B2C retail revenue grew 13%. Group revenue…

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Today’s news in brief-2/10/24

Shop prices fell by 0.6% in September, marking the lowest annual growth since August 2021. Non-food items saw deflation deepen to -2.1%, while food inflation slightly rose to 2.3%, influenced by higher prices in cooking oils and sugary products. Nike’s first-quarter revenue dropped 10% to $11.6bn, prompting the company to…

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AO World to acquire MusicMagpie in £10m deal

AO World has announced that it is set to acquire MusicMagpie in a deal worth £9.98m which is expected to complete in early 2025. The deal received backing from MusicMagpie’s board, with directors unanimously recommending the offer. AO World is hoping that the deal will boost its presence in the…

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Today’s news in brief

Former BHS owner Dominic Chappell has been ordered to pay at least £50m by a High Court judge for the losses incurred by the high street chain before its collapse. Chappell, who bought BHS for £1 from Philip Green, faces charges from liquidators for wrongful trading, misfeasance, and breach of…

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