MusicMagpie
This coverage explores MusicMagpie’s strategy and operations in the UK retail market, offering insights for executives, managers, and brand professionals. Reporting includes financial results, leadership changes, marketing campaigns, product categories, and the company’s positioning in the recommerce and circular economy sectors. The analysis helps professionals assess MusicMagpie’s growth plans, sustainability initiatives, and competitive dynamics.
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Mar- 2023 -8 MarchElectrical
MusicMagpie FY profits fall despite record Black Friday sales
MusicMagpie has seen its profits fall by 14% from £44m to £38m in FY22 despite record sales on the week of Black Friday. Moreover, the company more than doubled its active rental subscribers to 30,500 up from 13,500 in 2021. Its revenue from consumer technology was up 12.2% to £96.6m…
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Jan- 2023 -9 JanuaryOnline & Digital
MusicMagpie agrees online deal with Walmart
MusicMagpie, a refurbished consumer technology and disc media retailer that operates in the UK and US, has made its refurbished disc media available to buy on Walmart’s website. The retailer also has other refurbished technology products set to launch early this year. Walmart’s website, which is said to be one…
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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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Apr- 2022 -25 AprilOnline & Digital
MusicMagpie to launch on Back Market
MusicMagpie has secured a contract to sell consumer electronic products on Back Market, an online marketplace that is dedicated to refurbished devices. The recommerce group said its products will feature on the Back Market UK marketplace by the end of this month, and on the Back Market US marketplace in…
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Feb- 2022 -7 FebruaryOnline & Digital
MusicMagpie expands service amid subscription economy boom
MusicMagpie has announced that it has expanded its rental subscription service to offer new product categories that include tablets, games consoles and MacBooks, as the subscription economy continues to witness a boom across the UK. Having launched in October 2020, its smartphone service has reportedly attracted around 13,500 active subscribers…
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Sep- 2021 -27 SeptemberSupermarkets
Asda and MusicMagpie launch sustainability partnership
MusicMagpie has announced the launch of a new sustainability partnership with Asda, in a move that will see the roll-out of its SMARTDrop kiosks across Asda stores. The affiliate agreement will give Asda customers the chance to buy and sell pre-owned consumer technology, such as tablets and mobiles, and media…
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Apr- 2021 -16 AprilOnline & Digital
MusicMagpie plans £208m London float
MusicMagpie, the e-commerce retail business, has announced plans for a £208m float on the London Stock Exchange. The proposed admission to trading on AIM would place 7,772,020 new ordinary shares and 49,415,850 existing ordinary shares of one pence each, both at a placing price of 193 pence. The new shares…
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Mar- 2021 -8 MarchSupermarkets
Issa Bros considering adding nail bars and salons to Asda offering
Mohsin and Zuber, the new owners of Asda, are reportedly considering adding nail bars, salons and cafes to the supermarkets offering while reducing grocery floor space. According to The Sunday Times, the Issa Brothers are considering reducing the grocery floor space in stores by up to a quarter in order…
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Feb- 2021 -23 FebruarySupermarkets
Asda owners consider George spin-off
Asda’s new owners are reportedly considering spinning off George, the fashion label developed by George Davies, in an attempt to cut costs. Industry sources told the Times that the Issa brothers and TDR Capital believe the brand is outside of their area of expertise. While selling the brand outright could…
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Nov- 2020 -18 NovemberCoronavirus
Asda gears up for ‘record Christmas’ as Q3 sales rise 2.7%
Asda has revealed it is gearing up for a “record Christmas” after it revealed its like-for-like sales increased by 2.7% YOY. The trading quarter for the three months ending 30 September, which coincided with the end of the first UK-wide lockdown and the re-opening of the hospitality sector, saw growth…
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