Marks Electrical is online retailer selling household appliances including fridges, freezers, washing machines, TVs and dishwashers. It was established in 1987 and is known for its competitive prices. Retail Week provides news, analysis, features and opinion about Marks Electrical and the electricals sector.
Frasers has extended its proprietary credit and loyalty offer to online electricals retailer Marks Electrical.
Frasers Group has snapped up South African sportswear retailer Holdsport Group for an undisclosed sum on the same day it took a £3m stake in British brand Marks Electricals.
Moving ahead of the £100m mark for the first time, Marks Electrical’s hailed a 16.9% uptick in group sales to £114.3m in the year to 31 March 2024. Statutory pre-tax profit slumped to £0.6m in FY2023, compared to £6.4m in FY2022, bringing pre-tax profit margin down to 0.5% from 6.5% the year before. The retailer noted strong trading in April, May and June, with double-digit revenue growth and momentum picking up following the weaker January to March trading period with its performance giving it optimism for the year ahead.
Marks Electrical has posted a dip in half-yearly profits despite a growth in sales as consumers traded down to non-premium products, reducing profit margins.
Marks Electrical profits have slumped even while sales increased in what its CEO described as a “challenging but rewarding year” for the retailer.
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