Electronics Retailer Prepares for Uncertainty with Contingency Plan and Expansion
- AO announces £15m stockpiling as part of Brexit contingency plan
- UK revenue up 9.8% year on year, expected to reach £748m
- European revenue growth at €174m (£148m) or 32.3%
- Expansion into garden and DIY categories
- AO Mobile launching later this year for peak trading
Electronics retailer AO has announced plans to stockpile £15m worth of popular products as part of its Brexit contingency plan. The online-only retailer said the move will help “ensure it can continue to deliver its market-leading proposition to customers”. In the group’s preliminary trade update for the full financial year ending 31 March 2019, UK revenue is expected to be £748m, up 9.8% year on year. European revenue growth is also expected to be €174m (£148m) or 32.3%. Founder and CEO John Roberts expressed excitement about the company’s opportunities and future growth, mentioning the expansion into garden and DIY categories as well as the upcoming launch of AO Mobile during peak trading season.
Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about AO’s Brexit contingency plan, financial performance, and future business strategies without any digressions or personal opinions.
Noise Level: 3
Noise Justification: The article provides relevant information about a company’s Brexit contingency plan and its financial performance, as well as updates on new initiatives. It also includes a quote from the CEO. However, it lacks in-depth analysis or exploration of long-term trends or consequences.
Financial Relevance: Yes
Financial Markets Impacted: UK and European financial markets
Financial Rating Justification: The article discusses AO’s Brexit contingency plan, which involves stockpiling £15m worth of products to ensure continued delivery to customers. This impacts the company’s finances and may affect its performance in UK and European markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.
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