THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Maplin posts 'robust' full year results

Maplin, the specialist technology retailer, has seen its full year revenue edge up 0.5% to £236 million after it benefited from a 161% uplift in sales of smart home products.

ELECTRICALS

Maplin posts 'robust' full year results

Maplin, the specialist technology retailer, has seen its full year revenue edge up 0.5% to £236 million after it benefited from a 161% uplift in sales of smart home products.

In the year ending 18 March, like-for like sales were up 0.3%.

Meanwhile, underlying EBITDA was £12.3 million compared to £13.2 million in the previous year after the retailer made substantial investment across the business. This included a refresh of Maplin’s brand identity, improvements to its digital infrastructure, a new focus on smart product categories, and the piloting of a new store concept in Cambridge.

The foundations of Maplin’s connected services offering were also laid with the expansion of installation services and the trial of free home surveys. 

Oliver Meakin, chief executive of Maplin, said: “We are confident that Maplin has a winning strategy and the financial flexibility to navigate what is a challenging retail backdrop and to fully realise the opportunity that our leadership in smart home presents.

“We have re-energised the business and laid the foundations of the new strategy, which focuses on providing customers with expert advice and installation, to be delivered across a seamless, modern multichannel offering. Early results are very encouraging with sales of smart home products up 161%.”

Maplin said it saw strong trading over this year's Black Friday with sales up 5% year-on-year including its biggest ever trading day in digital. Big sellers on Black Friday were smart home hubs, speakers, security products, bulbs, ride-on toys and drones.

Meakin added: “I believe that multichannel will ultimately win out over online only models, with the Maplin full service and expertise our unique selling points for the majority of consumers who want the benefits that technology offers but are uncertain how to best harness them.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The HR Summit 2018
The HR Summit 2018
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
National Minimum Wage Breakfast Briefing
National Minimum Wage Breakfast Briefing
20 September 2018
6th Floor 1, St. Martin's Le Grand London, EC1A 4AS
National Minimum Wage Breakfast Briefing
Fix The Dinosaur Roundtable 2018
Fix The Dinosaur Roundtable 2018
19 October 2018
The Euston Suite, The Hallam, 44 Hallam St, London W1W 6JJ
A Masterclass in IBMi Legacy Issues