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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Jul- 2023 -13 July
MusicMagpie sees EBITDA rise 7.7% in H1
MusicMagpie has reported adjusted EBITDA of £2.8m, up 7.7% in H1 2023 compared with £2.6m in H1 2022, according to its interim results for the six months ended 31 May 2023. It also stated that following a challenging start to H1, with postal strikes and low consumer confidence impacting December…
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11 July
Amazon UK has lost 1 million app users, study finds
Amazon UK has lost over 1 million app users since the start of the year amid an emergence of international ecommerce rivals, according to research from mobile analytics and business intelligence firm GWS. Using data collected from GWS’ opt-in, app-engagement panel of 5,200 participants (18+) from around the UK, GWS…
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11 July
Revolution Beauty says it could reach compromise with Boohoo
Revolution Beauty Group reportedly believes that a compromise with Boohoo could be reached in the coming days. The news comes after the cosmetics group said it will organise a general meeting on 7 August 2023. The board of the company has unanimously recommended that shareholders vote against all of Boohoo’s…
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10 July
M&S chair ‘unhappy’ with Ocado Retail performance
M&S chair Archie Norman has reportedly told shareholders last week that he is “not happy” with the performance of Ocado Retail, according to The Times. Norman also stated that there was “work to do” on the joint venture M&S runs with Ocado. Ocado Retail posted a £501m loss for this…
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10 July
Amazon warehouse workers to strike during Prime Day
Labour union GMB has announced that nearly 900 Amazon workers at Amazon’s Coventry warehouse in Britain will strike for three days during its Prime Day event over a pay dispute, according to a Reuters report. In an emailed statement to Reuters, GMB said the strike will take place from 11-13…
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6 July
Nestware Holdings acquires UK Flooring Direct
Keswick Flooring, a subsidiary of Nestware Holdings, has announced the acquisition of UK Flooring Direct (UKFD) for an undisclosed sum. Teneo Financial Advisory acted as the lead advisor on the sale of UKFD to Keswick Flooring. Founded in 2005, UKFD is one of the UK’s leading online retailers of real…
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6 July
TikTok opens pop-up shop on Oxford Street
TikTok Shop UK is opening its first pop up on Oxford Street in London, to show the brands and creators selling on the platform in a real world context. The pop up is not open to the public, but will be open to existing and prospective merchants and creators to…
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Jun- 2023 -27 June
Vistamusic.com relaunches Dawsons following acquisition
Online music retailer, Vistamusic.com, has relaunched Dawsons following its recent acquisition of the music retailer. Dawsons, which was first established 120 years ago, has been recognised as a trusted name among musicians of all levels and will return under Caldecott Music Group, the owner of NME Networks. According to Vista…
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21 June
Alibaba CEO steps down to lead brand’s cloud business
Alibaba chief executive and chairman Daniel Zhang has announced that he will be stepping down from his role to lead the company’s computing service arm. Following this transition, Zhang will continue to lead Alibaba Cloud Intelligence Group as its chairman and chief executive officer. Zhang has been with the firm…
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20 June
Gear4music falls to £0.4m loss in FY23
Gear4music has reported a loss after tax of £0.4m for the full year ended 31 March 2023, despite its revenue increasing by 3% to £152m. The online musical instruments retailer also reported EBITDA of £7.4m which is 34% below FY22 and 5% below FY20. According to the CEO of Gear4music,…
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