AO World's Black Friday hope
AO World, the electrical goods retailer, forecast a sales windfall from Black Friday but said it was not expecting any help from the UK’s fragile economic recovery.
AO predicts a rising demand for TVs and tumble dryers in the run up to Christmas
AO said this Friday should be its biggest sales day yet as shoppers hunt pre-Christmas bargains.
The group also predicted rising demand for TVs in the next few weeks as well as seasonal goods such as tumble dryers.
But AO said consumer disposable incomes were still tight.
Chief executive John Roberts said: “We keep being told the housing market is improving but we haven’t seen it.”
We keep being told the housing market is improving but we haven’t seen it
AO has expanded into Germany with a distribution centre in Cologne and is eyeing other mainland European countries.
It is also considering launching click-and-collect services and has not ruled out opening shops or selling electronics such as laptops, but said it has no immediate plans to do so.
First-half profits rose 115 per cent to £7.3million on a 39 per cent lift in revenue to £173.7million.
Shares in AO, which floated in March at 285p per share, closed up ¼p at 217¼p.