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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Dec- 2023 -15 December
Amazon wins £215m EU tax battle
Amazon has won its case against the EU Commission over a £215m tax battle in the European Court of Justice. The Commission had alleged that Amazon had struck a deal with Luxembourg enabling the company to avoid 75% of its EU tax. The ECJ dismissed the claims insisting it had…
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6 December
Moonpig sales and profit rise in H1
Moonpig has welcomed a rise in sales and profits in the first half of the year, as the group continued to focus on technology advancements over the period. Revenues returned to growth and rose by 6.5% to £152.1m, while profit-before-tax was £20.8m, up from £18.9m the prior year. Meanwhile, adjusted…
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Nov- 2023 -17 November
Amazon to begin selling cars next year
Online retail giant Amazon has announced that it is set to start selling cars online from next year. Customers in the US will be able to shop for, equip and purchase a car online before scheduling a delivery to a local car dealership. To begin with the scheme will be…
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10 November
Waitrose invests in AI to improve online shopping offering
Waitrose has announced a partnership with Netcore Unbxd to integrate AI into its online shopping offering. The new partnership will allow Waitrose to use AI to improve its online search and browsing experience, and develop personalised and tailored experiences for customers. It will allow Waitrose to improve customer service based…
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7 November
Naked Wines slashes full-year guidance as CEO exits
Naked Wines has lowered its full-year guidance amid a period of difficult trading, alongside news that CEO Nick Devlin is stepping down from his role with immediate effect. With recent trading in the US being lower than expected, the group now expects full-year revenues to fall by 12% to 16%,…
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1 November
Asos posts £296.7m loss before tax in FY23
Asos has announced a statutory loss-before-tax of £296.7m for the year ended 3 September 2023 down from a loss before tax of £31.9m in 2022. The performance comes as Asos revealed it anticipates a second year of falling sales, forecasting a decline of 5% to 15% in FY24. The embattled…
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Oct- 2023 -27 October
Amazon Q3 net sales rise 13% to $143.1bn
Amazon has revealed that its net sales rose 13% to $143.1bn (£118bn) for the three months ended 30 September 2023, up from $127.1bn (£104.9bn) in the same period in 2022. The company’s net sales were also up 11% excluding the $1.4bn (£1.2bn) favourable impact from year-over-year changes in foreign exchange.…
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26 October
Very Group PBT plummets 92% to £4.6m
The Very Group has revealed that its profit before tax has dropped to £4.6m for the 52 weeks ended 1 July 2023, down 92% compared with the £63.9m it posted last year. The company stated that this was down to the heightened cost of funding the company after its finance…
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25 October
Virgin Wines sales fall by £10m in FY23
Virgin Wines has seen revenues fall to £59m in FY23, down from £69.2m, as the group battled with economic headwinds and the launch of a new Warehouse Management System over the period. As well as a fall in sales, profit before tax fell to £0.6m, down from £6.2m, while adjusted…
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23 October
European authorities greenlight Farfetch’s YNAP acquisition
Online retailer Farfetch has officially been given the green light by European authorities to acquire a large stake in Yook Net-A-Porter (YNAP). The European Commission unconditionally cleared its acquisition of a 47.5% stake in YNAP from Richemont, the owner of Cartier. It was the last regulatory authority required to provide…
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