Online & Digital
The latest news, updates and analysis on the online and digital segment of the the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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Feb- 2024 -14 February
Frasers ups stake in AO amid £80m share buyback programme
Frasers has upped its stake in AO World to 24.7% amid the launch of a new £80m share buyback programme. The Mike Ashley-owned group previously held 23% of its shares. Last year it was reported that Frasers Group had acquired an 18.9% strategic stake in AO World. At the time,…
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2 February
Amazon revenues hit $170bn in Golden Quarter
Amazon has revealed that net sales rose by 14% to $170bn (£133.2bn) in the fourth quarter ended 31 December 2023. The news comes as Amazon’s international segment sales increased 17% year-over-year to $40.2bn (£31.5bn), while its Amazon Website Services (AWS) sales rose 13% year-over-year to $24.2bn (£18.9bn). Operating income during…
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Jan- 2024 -30 January
Studio Retail swings to full-year profit following Frasers takeover
Studio Retail has welcomed a pre-tax profit of £12m in the year ended 30 April, 2023, up from a £75.7m loss the prior year, following its acquisition by Frasers Group. According to new filings from Companies House, while full-year revenues fell from £424.4m to £330.2m, it has “actively taken action…
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25 January
JD.com partners with Evri on European brand expansion in China
Chinese marketplace JD.com has announced a partnership with Evri in its effort to offer European brands more access to its consumer base in China. In a statement, the marketplace expressed that the partnership will help establish comprehensive two-way logistics services spanning China and Europe. The services will include Evri’s local…
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22 January
Virgin Wines revenues rise 2% in H1
Virgin Wines has revealed that total revenues rose by 2% year-on-year to £34.3m in the six months ended 29 December, despite a “subdued” consumer economic landscape that impacted the retailer last year. In a trading update, the direct-to-consumer wine retailer reported a “significant improvement in profitability”, which it attributed to…
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11 January
Very UK sales up 3.4% over Christmas period
Very UK has reported that retail sales were up by 3.4% in the seven weeks to 22 December 2023, with group sales up by 2.1% overall, but warned of a “challenging” year ahead for retailers. Over the Christmas and Black Friday period, the group said its performance was “consistently ahead”…
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4 January
Next ups guidance after Christmas trading boost
Next has raised its full-year guidance for the fifth time in eight months, after a period of strong trading over the golden quarter. In the nine weeks to 30 December, sales rose by 5.7% against last year, £38m ahead of its previous guidance of 2% for the period. In light…
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3 January
THG backs director after shareholder revolt
The board of THG has backed a non-executive director after his re-election was voted against by more than a fifth of shareholders at the company’s AGM. A “significant” number of votes were cast against a resolution relating to Iain McDonalds’ re-election in the AGM last June. However, following a review…
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Dec- 2023 -20 December
Alibaba chief to head e-commerce arm
Alibaba Group has announced that chief executive Eddie Wu will now serve as chief executive of the group’s ecommerce arm, Taobao and Tmall Group. He is currently chairman of Taobao and Tmall Group, and will take on the role of CEO with effect from today (20 December, 2023). In addition,…
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19 December
Whirli launches customer refund programme
Toy subscription service, Whirli, has launched a customer refund programme in a bid to “underline its commitment to customer satisfaction”. The news comes one year after the company relaunched under new family ownership. The newly-launched programme, which has been designed to provide credit for previously lost subscription fees, will invite…
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