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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Aug- 2023 -10 August
Bookshop.org hits £3m profit for indie bookshops
Bookshop.org, the self-described “ethical book-buying alternative to Amazon”, has revealed it has generated £3m in profit since its launch for the 570 independent bookshops using the platform. It has now set the goal to increase online sales for indies by five times in the next five years. The news comes…
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8 August
Frasers ups stake in Asos to nearly 17%
Mike Ashley’s Frasers Group has announced that it has once again upped its stake in Asos to nearly 17%. The news comes after the group upped its stake in the online retail company to over 10% in June. Additionally, Frasers also acquired 7.8% stake in Boohoo last month. Prior to…
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4 August
Apple revenues drop 1% to $81.8bn in Q3
Apple has announced that its revenues dropped 1% year-on-year to $81.8bn (£64.4bn) for the third quarter ended 1 July 2023. Furthermore, the company’s gross margin was $36.4bn (£28.6bn) up from $35.9bn (£28.3bn) in the same period last year. The Americas represented Apple’s largest market with net sales of $35.4bn (£27.9bn)…
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4 August
Amazon sales and profits climb in Q2
Amazon has welcomed a strong second quarter of trading, with sales rising by 11% to $134.4bn (£105.8bn) in the period, up from $121.2bn (£95.4bn) the prior year, amid a record-breaking Prime Day and cost cuts across the business. North America sales rose by 11% to $82.5bn (£64.9bn), international sales by…
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Jul- 2023 -27 July
Amazon offers to change Marketplace rules to address CMA concerns
Amazon has offered to change the way it treats third-party sellers using its Marketplace platform in the UK, by submitting proposed commitments to the Competition and Markets Authority (CMA) in response to competition concerns it raised with the technology giant. The CMA said it considers that these commitments – if…
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27 July
THG snaps up City A.M.
THG has announced the acquisition of London’s 18-year-old business newspaper, City A.M. The news comes after it was revealed that City AM was on the brink of administration and THG was reportedly in advanced talks with the newspaper to acquire it through a pre-pack administration. Matthew Moulding, THG chief executive…
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26 July
THG in talks to buy City A.M.
Online beauty retailer THG is reportedly in advanced talks with London business newspaper, City A.M. to acquire it through a pre-pack administration, according to Sky News. The news comes after it was revealed that City A.M. is on the brink of administration after failed attempts to find a buyer in…
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18 July
Ocado restates FY23 guidance despite increased losses
Ocado has restated that it has full confidence in its FY23 guidance despite posting losses of £289.5m for the half year ended 28 May 2023. The main reasons for these losses are put down to £192.5m worth of depreciation of assets and amortisation plus £77.2m worth of exceptional items. These…
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17 July
Virgin Wines FY trading meets forecast
Virgin Wines has reported that full-year revenues are expected to be £59m, and profits of “no less than £0.5m” for the year ended 30 June 2023, with trading in line with expectations. It comes as the group said it continued to execute its “disciplined strategic approach” to customer acquisition, which…
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14 July
Nisa expands delivery service with Just Eat partnership
Nisa has partnered with Just Eat to launch an on-demand online delivery partnership, increasing access “to quick convenience shopping in communities throughout the UK”. According to Nisa, through the tie-up, its shoppers will be able to order items from local Nisa participating stores “for speedy delivery in as little as…
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