AO World reviews German business amid rising costs, increased competition

AO World reviews German business amid rising costs, increased competition

27/1/2022 11:12:00 AM

AO World reviews German business amid rising costs, increased competition

British electricals retailer AO World said on Thursday it has launched a review of its German business due to increased competition and rising costs, while online activity returns to pre-pandemic levels.The online retailer, which sells laptops, washing machines, mobile phones and printers, said its curren

British electricals retailer AO World said on Thursday it has launched a review of its German business due to increased competition and rising costs, while online activity returns to pre-pandemic levels.The online retailer, which sells laptops, washing machines, mobile phones and printers, said its current trading estimates for the 12 months ending March 31 remain in line with its lowered forecast from November. (https://refini.tv/3IBnchI)

The company's German business is being significantly impacted by a number of recent material changes to the local trading environment, AO World said, adding that competition in the online market has intensified and online penetration has returned to pre-pandemic levels.

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The online retailer, which sells laptops, washing machines, mobile phones and printers, said its current trading estimates for the 12 months ending March 31 remain in line with its lowered forecast from November. (https://refini. Davies led Namibia to the 2015 and 2019 World Cups, and also had stints at Cardiff Blues, Scarlets and Worcester Warriors.tv/3IBnchI) The company's German business is being significantly impacted by a number of recent material changes to the local trading environment, AO World said, adding that competition in the online market has intensified and online penetration has returned to pre-pandemic levels." Myanmar has been mired in political conflict since the military seized power on Feb 1 last year, triggering massive demonstrations that have since morphed into armed insurgency in various parts of the country. AO World said its digital marketing costs for the country have substantially increased compared to pre-pandemic levels and supply remains constrained. (Reporting by Dhruv Munjal in Bengaluru; Editing by Christian Radnedge) Source: Reuters. The company expects these trends to continue for the foreseeable future in the German market.

The London-listed firm said the review of its German business will include a range of options, without providing additional details. But it stressed that its forecast"assumes that the emerging signs of stabilisation in the manufacturing and services sectors continue through most of this period, and that the impacts of conflict on economic activity do not escalate substantially further from what has been observed in recent months". (Reporting by Chris Peters in Bengaluru; Editing by Sherry Jacob-Phillips and Shounak Dasgupta) Source: Reuters .