Articles about electricals

The Hut goes from strength to strength as potential IPO looks promising

Online retailer The Hut Group this week revealed sales rose by more than 30 per cent to £77 million for the first half of the year.

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Dixons chief outlines expansion plans

Sebastian James, the chief executive of electrical retailer Dixons, is looking at ways to expand the business after agreeing deals to offload its loss-making internet business, Pixmania, and its struggling Turkish arm. One of the options being explored by Mr James is a services business for consumers whose computers, tablets or mobile phones become damaged.

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Panasonic to stop selling smartphones in Japan
Photo credit: Panasonic

Panasonic will stop selling smartphones in its home market Japan. The multinational electronics corporation said it would also begin outsourcing production of handsets sold to other countries. The tech giant, which is the world’s fourth largest television manufacturer by market share, has struggled with growing its smartphone operations, and confirmed that its mobile division has been set to make another loss.

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Microsoft to acquire Nokia’s handset business for €5.44 bn
Photo credit: Nokia

Microsoft Corp has announced it will buy Nokia Oyj’s phone business and license its patents in a deal worth EUR 5.44 billion. The acquisition marks Microsoft’s boldest move to date into mobile devices, despite some investors urging the multinational software corporation to focus on its key strengths of business products and computer services.

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Best Buy founder Schulze to start selling off shares in October
Photo credit: Best Buy

Richard Schulze, founder and former chairman of the world’s largest consumer electronics chain has announced he plans to start selling its stocks from 1 October, according to a regulatory filing on Monday. "The stock sales ... are part of his personal long-term strategy for asset diversification and liquidity," Schulze told Best Buy, according to the filing.

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Comet’s second coming? Property tycoon eyes gap in market

Clive Coombes, a Southampton-based property tycoon who initially failed to buy Comet from administrators at the start of the year, is said to be setting up a rival electronics store which will see the collapsed retailer return to the high street.

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John Lewis' weekly sales rise 7.1% as electricals streak ahead
Photo credit: John Lewis

Sales at John Lewis’ regional stores and food operations bought in mixed results as a classic British summer left shoppers between rain and sun rays. David Barford, director of selling at the retailer, on Friday said: “The week saw the continued mixed bag of weather that typifies a British summer and with this our customers seized the opportunity to shop with us.”
“We finished the week with sales up 7.1 per cent up on last year and our strongest day of the week was Saturday, up 21.8 per cent.

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Former Comet owners recoup £54m from collapsed retailer

Documents filed at Companies House find OpCapita vehicle Hailey Acquisitions Limited (HAL) has so far been paid £54 million from the sale of Comet’s stock and equipment after the electronics retailer collapsed in November last year.

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John Lewis sales rise 13% as online surges ahead
Photo credit: John Lewis plc

Strong sales gains made by the department store as online purchases were up by nearly 25 per cent year-on-year. Total sales rose 13 per cent for John Lewis in the seven days to 27 July, with all three of its trading directorates and both channels posting positive increases.

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Android muscles in on Apple and Windows' market share in Q2

Apple and Windows-branded tablets lost out on market share to Android in the second quarter, according to Strategy Analytics.

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