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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Comcast Corporation    CMCSA

COMCAST CORPORATION

(CMCSA)
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Comcast : Sky to Open First UK Retail Stores

10/21/2020 | 07:43am EST

By Adam Clark

Comcast Corp.'s European pay-television arm Sky is planning to open its first brick-and-mortar stores in the U.K., in a rare physical expansion at a time when many companies are closing branches.

Sky said Wednesday that it would open some stores in 2020, with the first one in Liverpool on Oct. 26, with more potentially to follow in 2021. It didn't say how many shops it would open in total.

"Sky Shops are a departure from traditional shops and, in the long-term, will offer a new social hub for shoppers," the company said. The company intends to sell its pay TV, mobile and broadband products via the stores but also offer customer services and technology repairs, the latter in a deal with the iSmash chain.

Sky's parent Comcast has several hundred Xfinity stores in the U.S., in addition to its own retail-service centers. Comcast bought Sky for around $39 billion in 2018.

The move comes at a time when thousands of U.K. retail sites are being left empty as companies cut back in the face of the coronavirus pandemic and the increasing shift to online purchases. Research released on Sunday by PwC and the Local Data Company found a net 6,001 stores closed in the U.K. in the first half of 2020, a record level. A total of 11,120 outlets closed while 5,119 opened.

Some of Sky's competitors have also cut their physical presence. Vodafone Group PLC said last year that it would shut 15% of its 7,700 stores, which are primarily located across Europe. Carphone Warehouse, a retailer of smartphones and associated products, said earlier this year it would close all its 531 standalone stores.

Write to Adam Clark at adam.clark@wsj.com

(END) Dow Jones Newswires

10-21-20 0742ET

Stocks mentioned in the article
ChangeLast1st jan.
COMCAST CORPORATION -0.10% 51.75 Delayed Quote.15.08%
VODAFONE GROUP PLC -0.51% 124.2 Delayed Quote.-14.90%
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Financials (USD)
Sales 2020 103 B - -
Net income 2020 8 957 M - -
Net Debt 2020 91 405 M - -
P/E ratio 2020 26,7x
Yield 2020 1,77%
Capitalization 237 B 237 B -
EV / Sales 2020 3,20x
EV / Sales 2021 2,90x
Nbr of Employees 190 000
Free-Float 83,1%
Chart COMCAST CORPORATION
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Comcast Corporation Technical Analysis Chart | CMCSA | US20030N1019 | MarketScreener
Technical analysis trends COMCAST CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 32
Average target price 52,50 $
Last Close Price 51,75 $
Spread / Highest target 25,6%
Spread / Average Target 1,45%
Spread / Lowest Target -22,7%
EPS Revisions
Managers
NameTitle
Brian L. Roberts Chairman, President & Chief Executive Officer
Michael J. Cavanagh Chief Financial Officer
Jeff Votaw Vice President-Engineering
Kenneth J. Bacon Independent Director
Jeffrey A. Honickman Independent Director
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