AO World
This coverage examines AO World’s strategic performance within the UK electricals retail sector. Reporting focuses on its FY25 results, which include a 12% increase in B2C retail sales and a record £45m in adjusted pre-tax profit, driven by cost efficiencies and the growth of its membership programme. Coverage also explores AO’s acquisition of Music Magpie, customer retention strategies, and its navigation of rising labour costs and macroeconomic challenges. These insights are tailored for retail executives, brand managers, and professionals monitoring digital retail, consumer electronics, and operational resilience.
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Oct- 2024 -2 OctoberNews-In-Brief
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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2 OctoberElectrical
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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Jun- 2024 -26 JuneNews
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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26 JuneElectrical
AO adjusted PBT hits £34.3m in bumper FY24
Electrical retailer AO World has reported that adjusted profits before tax reached £34.3m in the year to 31 March, spelling a year-on-year rise of £22.3m with a PBT margin of 3.3%. According to the group, the strong profit performance above the top end of the previous range illustrates “the successful…
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Feb- 2024 -14 FebruaryNews
Today’s news in brief-14/2/24
The British Retail Consortium (BRC) reported a disturbing surge in violence and abuse against retail workers, with incidents increasing by nearly 50% to 1,300 per day in 2022/23 compared to the previous year. This rise occurred despite significant investments by retailers in crime prevention measures such as CCTV and security…
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14 FebruaryOnline & Digital
Frasers ups stake in AO amid £80m share buyback programme
Frasers has upped its stake in AO World to 24.7% amid the launch of a new £80m share buyback programme. The Mike Ashley-owned group previously held 23% of its shares. Last year it was reported that Frasers Group had acquired an 18.9% strategic stake in AO World. At the time,…
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Nov- 2023 -21 NovemberNews
Today’s news in brief-21/11/23
AO World has reported a significant turnaround in its financials for the six months ending September 30. The company posted a profit before tax of £13m, marking a notable improvement from the previous year’s loss of £12m. AO World has adjusted its profit guidance for the fiscal year, now anticipating…
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21 NovemberElectrical
AO World ups guidance as profits hit £13m
AO World has upped its profit guidance after it posted profit before tax of £13m, up from a loss of £12m, for the six months ended 30 September. As a result the company now expects to end the financial year with a profit before tax of between £28m and £33m.…
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Aug- 2023 -31 AugustOnline & Digital
Frasers ups Boohoo stake to 9.1%
Frasers has announced that it has increased its stake in fashion retailer Boohoo to 9.1%. The latest increase takes the Mike Ashley owned company’s stake up from the previous 7.8% it owned. The group had previously stated that Boohoo aligned with its strategy of building “supportive positions in attractive companies”. …
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29 AugustClothing & Shoes
Frasers ups Asos stake to 19.3%
Mike Ashley’s Frasers Group has announced that it has once again upped its stake in Asos to 19.3%, up from 18%. The news comes after the group increased its stake to 17% earlier this month. The group also raised its stake in Boohoo Group from 6.8% to 7.8%. Prior to…
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