AO makes good first half progress
 
Tue, 22nd November 2016
 
 

AO makes good first half progress

AO website sales in the UK climbed by 20.8% to £259.4 million as total UK revenue rose by 18.7% to £295.1 million.

Revenue in Europe increased by 66.9% to €36.2 million.

The retailer reported a pre-tax profit of £2.3 million for the period compared to a loss of £8 million in the same period in the previous year.

In line with its expansion strategy, AO continued to invest in Germany and the Netherlands in the period.

John Roberts, AO chief executive, said: "We have made progress in our mission to become the best electrical retailer in Europe, cementing our operations in Europe with the opening of our distribution centre in Germany and launching new categories for customers in both the UK and Europe.

"Bringing our AO customers computing in the UK and A/V in Germany has been exciting and these are the natural next steps for us to take in the electricals market. We're retailing these categories the "AO Way," offering a simply better customer experience, executed brilliantly by a brand and team that customers and suppliers trust." 

AO said its new 35,000 square metre regional distribution centre in Bergheim is now fully operational, serving Germany and the Netherlands.

It has also launched a new audio visual category in Germany and a computing category in the UK.

Looking ahead, Roberts said: "At this mid-way point in the year we maintain our previous full year group guidance, with the continued momentum in the UK balanced with the continued investment in Europe. We remain confident that the opportunity for AO in Europe is huge and that the market dynamics are shifting in our favour as customers continue to move online. Against that backdrop we are well placed to deliver sustainable long-term growth."

Email this article to a friend

You need to be logged in to use this feature.

Subscribe for retail news

CONFERENCES

 
 
category Retail  |  source The Retail Bulletin
 
   
 
 
 
 
Wed, 23rd November 2016
Morrisons to pilot convenience offer in petrol stations and revive Safeway brand
Morrisons is to pilot a convenience food offer in ten petrol station shops owned and managed by forecourt operator, Rontec.

more >
 
Wed, 23rd November 2016
John Lewis sales down 2.6% last week
In the week before Black Friday, the John Lewis department store chain saw its sales decrease by 2.6% year-on-year.

more >
 
Wed, 23rd November 2016
Blackwell's appoints sales and marketing director
Bookseller Blackwells has appointed Dean Drew to the newly created role of sales and marketing director.

more >
 
Wed, 23rd November 2016
Insight: 93% of UK millennials lack trust in online retail
A new study has found that UK millennials are becoming increasingly concerned about sharing personal information with retailers, but their need for a convenient shopping experience still outweighs their security worries.

more >
 
Wed, 23rd November 2016
Sarah Beeny joins German direct selling brand Vorwerk to launch online store
Vorwerk, the German technology brand behind kitchen gadget the Thermomix, has enlisted TV property expert Sarah Beeny to promote the launch of its Kobold VK200 vacuum cleaner online.

more >
 
Wed, 23rd November 2016
New vision revealed for Hull's Humber Street
A new vision for Humber Street in Hulls Fruit Market has been revealed as part of an £80 million rejuvenation of the city centres waterside being led by Wykeland Group and Beal Homes in partnership with Hull City Council ahead of Hulls year as UK City of Culture in 2017.

more >
 
Tue, 22nd November 2016
Kingfisher Q3 sales uplift driven by UK and Poland
Kingfisher, the owner of B&Q and Screwfix, has seen its third quarter like-for-like sales climb by 5.8% in constancy currency in the UK and Ireland as it continues to implement its transformation plan.

more >
 
Tue, 22nd November 2016
AO makes good first half progress
Domestic appliance retailer AO World has grown its first half revenue by 22.9% to £324.7 million as it continues to grow sales in both the UK and Europe.

more >
 
Tue, 22nd November 2016
English Cut opens flagship Marylebone store
English Cut, the British tailoring brand, has chosen Londons Marylebone as the location for its first flagship store.

more >
 
Tue, 22nd November 2016
Delsey launches first online store
French luggage brand Delsey has opened its first online store. Initially launched in France, the store wil be rolled out across Europe next year.

more >
 
Tue, 22nd November 2016
Digital fashion start-up launches virtual styling app
A new styling and personal shopper app has been launched that matches users with a stylist who offers free advice on wardrobe choices.

more >
 
Mon, 21st November 2016
Uniqlo owner establishes denim innovation centre
Uniqlo owner Fast Retailing has established a denim innovation centre for the research and development of denim fabric.

more >
 
Mon, 21st November 2016
Bonmarché posts drop in sales and profits
Womens fashion retailer Bonmarché has reported a drop in first half sales and profits after battling against a range of factors impacting its business.

more >
 
Mon, 21st November 2016
Waitrose to take lead role in managing research on food security and sustainability
Waitrose has become the first retailer to successfully apply to lead the delivery of a major investment in doctoral training by the Biotechnology and Biological Sciences Research Council.

more >
 
Mon, 21st November 2016
Capco appoints Situl Jobanputra as chief financial officer
Capital & Counties Properties, the owner of Londons Covent Garden Estate, has named Situl Jobanputra as its new chief financial officer. He will join the business on 17 January.

more >
 
Mon, 21st November 2016
VictoriaPlum.com wins trademark infringement case
Online bathroom products retailer VictoriaPlum.com has won a trademark infringement case in the High Court against competitor Victorian Plumbing.

more >
 
Sun, 20th November 2016
Sunday Retail News Roundup
BHSs bosses may face clawback, May retreat workers on boards, Crisis for Chappell another company on brink, Business rates shock, Post Office reforms, Jackpot! Online gambling bonanza, Black Friday overhyped, Industry bodies slam new business rates appeals, Blitz on betting machine stakes, Marstons push pays off, Shocking Pink Tuesday, Paralympians join top label.

more >
 
Fri, 18th November 2016
Jimmy Choo reports growth in revenue
Luxury footwear brand Jimmy Choo has reported continued revenue growth in the second half of its financial year despite a difficult climate for the luxury sector.

more >
 
Fri, 18th November 2016
Tesco to hold its biggest ever Black Friday event
Tesco has said it is to hold its biggest ever Black Friday event this year by offering 11 days of deals and savings compared to four last year.

more >
 
Fri, 18th November 2016
Schuh to open dedicated kids' store at Bluewater
Footwear retailer Schuh is to open a dedicated Schuh Kids store at the Bluewater retail and leisure destination.

more >