Mike Ashley’s Frasers Group has made a strategic move by acquiring a £3 million stake in Marks Electrical, boosting the online white goods retailer’s shares in early Tuesday trading Earlier in the month, Marks Electrical reported a dip in half-year profits as consumers opted for less expensive products due to financial pressures, with adjusted earnings falling to £2 million for the six months ending September 30, compared to £2.3 million in the previous year.
This occurred even though revenue rose by 9.3% to £58.8 million for the half-year period
Category Archives: Retail suppliers
Marks Electrical profit fall
Marks Electrical Group plc (-13.7%) fell sharply after reporting a near halving of profits for the six months to 30 September, despite a 9.3% rise in sales. The company highlighted a 9% drop in average order value, as customers shifted to more affordable, non-premium products
Fnac Darty has acquired 91.1% of Unieuro
Fnac Darty has acquired 91.1% of Unieuro, so even the most skeptical shareholders could do nothing against the takeover bid from across the Alps.
Fnac-Unieuro: European Antitrust Authority to decide by December 6
The merger between Unieuro and Fnac Darty was officially notified to the European Commission only on October 31. Brussels officials have opened the ‘case’ M11662 as stated on the website and will communicate their decision by December 6.
CIH CEO
UK independent retailer buying group Combined Independents (Holdings) Ltd (CIH), part of Euronics, has announced that Paul Tyler will be stepping down as CEO from 4 April 2025.
Australian electricals and home retailer Harvey Norman opens first England store
The space will afeature home appliances, technology, and entertainment items from brands such as Dyson, Shark, Apple, Samsung, LG, Miele and Sage, with dedicated areas for each product category, including a cooking appliance centre
Curry Repair ads
Currys plc repairs service is the focus of a new marketing campaign from the UK retailer.
Aiming to raise awareness of its tech repairs capability – which take place at its dedicated site in Newark in the east midlands – the new cross-category ad campaign highlights how consumers can get their items fixed by Currys no matter where they originally purchased these goods.
The Currys repairs ads feature influencer and former World’s Strongest Man champion, Eddie Hall, who comedically dramatises his tech troubles in a four-part content series. Across the series, Hall explores all the Currys repair service has to offe
Currys CEO: VAT should be scrapped on refurbished electricals
Currys boss Alex Baldock has called on the government to slash VAT on refurbished electrical products to keep them out of landfills.
China’s trade-in policy energizes consumer market
In a significant push to stimulate consumer spending, China has rolled out an expansive trade-in policy across multiple sectors.
From automobiles and home appliances to real estate, the initiative aims to encourage the replacement of outdated goods with newer and more advanced options.
In the home appliance sector, the trade-in program has been well-received.
Beijing resident Yu Qian recently purchased a new refrigerator. “My old refrigerator was outdated. When I learned about the trade-in policy, I decided to upgrade. The model I wanted was originally priced at 8,999 yuan, but with the trade-in subsidy and various discounts from the store, I ended up paying only 7,020 yuan, saving quite a bit of money.”
Zhang Haibo, a sales supervisor at Suning, a major home-appliance retailer in China, echoed that many customers are attracted to the trade-in program, combined with government subsidies, store discounts and brand promotions.
Suning’s data reveals that nearly 40 percent of its consumers have chosen to purchase new home appliances through trade-in programs this year, including air conditioners, washing machines and large-screen TVs.
JB Hi-Fi Group to acquire E&S Trading
JB Hi-Fi Group has entered into an agreement to acquire E&S Trading , an Australian-owned family business retailer specialising in kitchen, bathroom, and laundry appliances.
The initial acquisition is of 75% for cash consideration of $47.8 million on a cash-free/debt-free basis with a put and call option arrangement for the acquisition of the remaining 25% in September 2029
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