Music Magpie
This coverage focuses on Music Magpie’s operations and strategy within the UK retail sector, offering insight for managers and executives tracking the brand’s performance. It includes reporting on store activity, online and circular economy initiatives, leadership decisions, marketing campaigns, and financial results — helping retail professionals evaluate Music Magpie’s role in resale, recommerce, and the broader retail market.
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Mar- 2025 -25 MarchOnline & Digital
AO raises full-year profit guidance amid LFL sales surge
AO has revealed that its adjusted profit-before-tax has grown in the region of 30%, and is expected to be around the top end of its previously upgraded guidance range of £39m to £44m for the year ended 31 March 2025. Alongside this, its B2C retail revenues are expected to increase…
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Jun- 2024 -28 JuneNews
Today’s news in brief-28/6/24
Walgreens Boots Alliance (WBA) has decided to shelve plans for a £7bn sale of Boots for the second time, citing a reduced profit outlook and the closure of 700 US stores. Despite this, Boots reported a 6% sales increase in the third quarter, highlighting growth across all categories. CEO Tim…
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28 JuneOnline & Digital
Music Magpie revenues fall amidst competitive second-hand market
Music Magpie has reported a decline in group revenues from £61.9m to £53.8m for the six months ended 31 May 2024, as it struggled in the highly-competitive second-hand market. The group attributed the reduction to the planned conversion of its US business into a sourcing-only operation, which also saw its…
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May- 2024 -22 MayOnline & Digital
Music Magpie trading in line with expectations amid takeover talks
Music Magpie has announced that its Q2 trading has been broadly in line with management’s expectations and has benefitted from cost control and lower overheads amid takeover talks. Ahead of its AGM today (22 May 2024), the group has stated that its FY23 financial results on 13 March 2024, started…
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Mar- 2024 -14 MarchNews
Today’s news in brief-14/3/24
John Lewis announced a pre-tax profit of £42m, a significant turnaround from the previous year’s loss of £78m. Despite this, the company will not pay staff bonuses for the third time in four years, citing a focus on base salary over bonuses. Sales rose by 1%, reaching £12.4bn, with Waitrose…
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14 MarchElectrical
Music Magpie FY23 losses widen
Music Magpie has revealed that pre-tax losses have widened to £6.8m during the year ended 30 November 2023 from £1.5m in the prior year. While the consumer technology category saw gross profits rise 15.8% to £23.4m, revenues declined from £145.3m to £136.6m during the period after sales dipped. Nevertheless, the…
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Nov- 2023 -20 NovemberNews
Today’s news in brief-20/11/23
Van hire firm Redde Northgate has reportedly approached Halfords with a proposed £1.3bn merger deal, indicating a nil-premium merger. Talks between the two companies took place, but Halfords reportedly deemed the offer as significantly undervaluing the business. Halfords, boasting nearly 400 stores and 650 garages, is valued at £512m, while…
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20 NovemberElectrical
Music Magpie in talks over potential sale
The board of Music Magpie has confirmed that it is in preliminary talks with BT Group plc and Aurelius Group over a potential offer to purchase all of MusicMagpie’s issued and to-be-issued share capital. It stated that discussions between the parties are ongoing and remain at a very early stage.…
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Dec- 2022 -7 DecemberHigh Street
MusicMagpie sees revenues drop to £144.8m
Music Magpie, who specialises in refurbished consumer technology, has announced its full-year revenue for the group will be £144.8m, down from £145.5m in 2021, for the full year ended 30 November 2022. It also revealed that EBITDA will be “in line” with management’s expectations. Net debt at 30 November 2022…
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Jul- 2022 -27 JulyElectrical
Music Magpie posts H1 loss amid revenue drop
Music Magpie has posted a first half loss of £0.7m, down from profits of £4m, in the six months to 21 May 2022 as its revenues declined amid a post-pandemic drop in trading. During the period, its group revenues declined marginally to £71.3m (H1 2021: £72.8m) with Music Magpie adding…
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