Lofra Italy has announced its partnership with EuroChef USA as the exclusive US importer of the brand’s kitchen appliances. Lofra has been manufacturing high-quality Italian home appliances since 1956. Designed and manufactured in the hills around the city of Padua, each Lofra appliance is carefully designed and built with the high-quality standards of a “Made in Italy” brand.
Currys has launched a ‘Quiet Hour’ in stores across the UK in a bid to create a more inclusive shopping experience for neurodiverse customers.
For the first hour of the day until 11am, the electrical retailer will reduce noise in-store, keeping lights low and making sure there are no flashing screens to ensure a calmer place to shop.
The group has unveiled its first estimates for the year 2022 and forecasts a slight decline in sales, of 1.2% compared to the previous year. In a context where purchasing power is fully affected by inflation, Fnac Darty relies more than ever on its Everyday strategic plan.
Fnac Darty forecasts 2022 sales down 1.2%, while maintaining its gross margin
January 20, 2023, by Sandra Nicoletti
The group has unveiled its first estimates for the year 2022 and forecasts a slight decline in sales, of 1.2% compared to the previous year. In a context where purchasing power is fully affected by inflation, Fnac Darty relies more than ever on its Everyday strategic plan.
Fnac Darty forecasts 2022 sales down 1.2%, while maintaining its gross margin
While the economic context has a direct impact on distribution, the Fnac Darty group is showing resilience and forecasts revenue of around 7,945 million euros for 2022, down 1.2% compared to the year previous. A drop in sales which results from a bad month of December (-55 million euros), but which does not affect the gross margin rate. This should indeed reach 30.2% in 2022, up +80 basis points in one year, supported by a positive product/service mix. “The estimated performance for 2022 demonstrates that the Fnac Darty group has demonstrated good resilience thanks to the commitment of its teams, despite a particularly difficult context for the distribution sector. The group has demonstrated its ability to adapt and has been able to develop its offer to deal with supply difficulties and control its costs in order to minimize the effects of inflation. Compared to 2019, our estimated revenue remains up sharply by +7% and our gross margin rate remains solid. This demonstrates the acuity of our strategic project which, by focusing strongly on customer experience and services, allows us to continue to create value and grow,” says Enrique Martinez.
The group remains mobilized in the execution of the Everyday plan
While current operating income is estimated at around €230 million, free operating cash flow is slightly negative, around -€30 million. A result below the forecasts announced in February 2021, when the Everyday strategic plan was launched. In this context, the Group considers it “unlikely” to achieve its cumulative free operating cash flow target of around €500 million over the 2021-2023 period and is therefore extending this target for 2021-2024. Finally, “the Group remains fully mobilized to pursue the execution of its strategic plan and continue to generate cash in order to ensure its development and a regular return to shareholders in accordance with what was announced during the Everyday strategic plan. This is why Fnac Darty is maintaining its ambition to generate free operating cash flow of at least 240 million euros on an annual basis from 2025,” reads the official press release.
Marks electrical Issued a trading update on financial and operational performance and announce revenue growth of 33.4% between October and December 2022 despite a very challenging market. Although their robust performance was driven across all major product lines, sales of A-rated energy efficient laundry appliances were especially strong.
In addition to marks electrical market-leading customer service and free next day delivery, we also saw continued adoption of our in-house installation service with over 3,000 installations now completed since launch in August 2022.
founder and CEO, Mark Smithson, commented:
“I am proud of the entire team at Marks Electrical for delivering a record quarterly performance, with year-on-year growth of 33.4% against a tough economic back-drop. This further demonstrates the resilience of our business model and the attractiveness of our market-leading customer offering, which more people are discovering up and down the country.
To continue our focus on growing brand awareness, we further invested in highly targeted television, radio and out-of-home campaigns over the Black Friday and Christmas sales peaks. This led to increased website traffic and broad-based revenue growth across the UK, but with particularly strong improvements year-on-year in London, South East England and the East Midlands.”
AO has increased profit expectations, despite a 17.2% decline in sales at its core UK business in the third quarter.
The electricals retailer said this was in line with management expectations.
The Italian Antitrust Authority has fined the company Unieuro Spa and for 1.2 million euro the subsidiary Monclick Srl for ‘unfair commercial practices’. This is what we read in the Agcm bulletin. The story begins in December 2021, when the Authority ‘ascertained two unfair commercial practices’ relating to ‘information on the characteristics of the offers as well as’ the online sales process; in the adoption of illegal methods of managing the phase following the online purchase, in relation to the delivery of the products, the tracking of shipments, the
The two companies, explains the Authority in a detailed summary of the affair, “have reiterated conduct already considered illegal by the Authority”. In particular, ‘Monclick has continued to provide misleading information on the availability of products on its website’ and ‘failing to inform consumers about the fact of operating in dropshipping, without having the material availability of the goods marketed,
Founded in the late ‘30s by Vittorio Silvestrini, Unieuro S.p.A. is currently the largest omnichannel distributor of consumer electronics and household appliances by number of outlets in Italy.
With a network of over 500 stores throughout Italy, including direct stores (approx 230) and affiliates (approx 270), in addition to its digital platform unieuro.it, Unieuro is one of the key players in the Italian market, with an ambition to become the leader in Italy for all consumer electronics and electrical appliance purchases.
Hoover Candy, a leading appliance manufacturer and a part of Haier Europe, have won the CIH White Goods Supplier of the Year award. The announcement was made at the buying group’s annual event , Combined Independent (Holdings) Ltd (CIH) is an electrical buying group and part of Euronics, Europe’s largest electrical buying group.
Currys slashes profit outlook as ‘hard-pressed’ customers cut back
Shares in the technology retailer were down more than 7% on Thursday after it said it has had a tough time over the past six months. fall in sales within its UK and Ireland division, on the other hand, was offset by cost-cutting and higher gross marginsCurrys said it now expected full year profit before tax to be between £100m-£125m – down from the previously guided £130m-£150m range.
Currys was the fourth busiest website in the UK over Black Friday, with 8 million customers online. Currys has also appointed former Dyson exec Pamela Puncher as its new head of delivery.
Puncher spent four years at Dyson, holding roles such as director of programmes and project management, and owner experience programme manager, global IT.
DeManincor first UK Showroom Dealer, Handmade Kitchen Co now has a live display of DeManincor domestic cooking ranges for their clients.
DeManincor professional ranges are used by chefs with over 60 combined Michelin-stars. The quality and exclusivity of our professional kitchens carry through to our truly bespoke, handmade, one-of-a-kind domestic cooking ranges.
Handmade Kitchen Co is located just minutes from the M11 and Stansted Airport, where you can experience our fully functioning range.
Visits are by appointment only.
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