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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Oct- 2023 -17 October
THG maintains guidance following steady Q3
THG has maintained its full-year revenue and EBITDA guidance after welcoming its best quarterly revenue performance in the last year. Q3 revenues were still down by 4.4% against the prior year, but its performance improved each month in the quarter. The group also returned to positive constant currency revenue growth…
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13 October
Wilko launches online as part of The Range
Wilko.com has started home delivery for online orders yesterday (12 October) with a selection of products and brands available via its ‘marketplace’ format. Formerly the online hub for Wilko, which recently collapsed, it is now part of home and leisure retailer, The Range. Shoppers will also see Wilko-branded products appear…
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10 October
Shein appoints investor as group vice chair
Fast fashion brand Shein has announced the appointment of investor Marcelo Claure as its new group vice chairman. Claure, who until recently served as CEO of SoftBank Group International, joined Shein in January 2023 as chairman of Shein Latin America. In that time, he has overseen the launch of Shein…
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9 October
Very Group suppliers see credit insurance pulled
Suppliers for the Very Group have seen its credit insurance pulled by Allianz Trade amid concerns around the retailer’s falling profit, according to reports from Drapers. It has been reported that the decision to withdraw cover was due to macro-economic pressures as consumers reduce their spending. Very Group saw its…
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6 October
CMA to probe Amazon and Microsoft cloud market dominance
Ofcom has referred the public cloud infrastructure services market to the Competition and Markets Authority (CMA) for further investigation following its own probe into UK cloud services. It comes as an Ofcom study identified features that supposedly make it more difficult for UK businesses to switch and use multiple cloud…
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2 October
AHK Designs acquires Victoria Plum
AHK Designs, owner of e-commerce retailers such as Beds.co.uk and Cox and Cox, has acquired bathroom seller Victoria Plum, according to Sky News. The news comes after people close to the business told Sky that inflation in global freight costs and pressure on consumer spending had impacted profitability and cash…
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Sep- 2023 -25 September
THG’s £200m HQ sale falls through
THG boss Matt Moulding has reportedly seen his plan to offload the business park which hosts the headquarters of THG, which could have been worth up to £200m, has fallen through. The boss of THG had been in talks with property investor ICG Real Estate of a sale with the…
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22 September
Ocado shares suffer worst fall in 11 years
Online supermarket Ocado saw its shares plummet 20% yesterday, its worst fall in 11 years, as a result of being downgraded by a city broker. The 20% drop wiped nearly £1.4bn off of the company’s overall value and slashed £32m of value off of co-founder and chief executive Tim Steiner’s…
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15 September
TikTok shop partners with CommerceHub to boost in-app shopping
Tik Tok Shop has partnered with CommerceHub, a provider of software solutions connecting supply, demand, and delivery for retailers and brands globally, to boost its in-app shopping experience. By implementing CommerceHub’s unified commerce platform including ChannelAdvisor, TikTok said it will now have the ability to access tens of thousands of…
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Aug- 2023 -31 August
Frasers ups Boohoo stake to 9.1%
Frasers has announced that it has increased its stake in fashion retailer Boohoo to 9.1%. The latest increase takes the Mike Ashley owned company’s stake up from the previous 7.8% it owned. The group had previously stated that Boohoo aligned with its strategy of building “supportive positions in attractive companies”. …
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