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- 2023 -6 February
Amazon to sublet UK warehouses as growth slows
Amazon is reportedly planning to sublet its empty warehouses across the UK, as it has continued to halt growth plans after its full-year profits halved to $12.2bn (£9.9bn) in FY22. According to the Telegraph, Amazon has started subletting unused warehouse space across the country, despite estimations it opened hundreds of…
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3 February
Amazon profits halve despite strong holiday sales
Amazon’s full-year profits halved to $12.2bn (£9.9bn) in FY22, as international sales fell 8% year-on-year to $34.5bn (£28.1bn). This comes in spite of the group’s net sales increasing 12% during the holiday season of 2022 compared with the same period last year. In addition, the retailer’s operating income decreased to…
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Jan- 2023 -17 January
THG lowers profit guidance as it launches new strategy
THG has revealed it now expects its EBITDA to come in between £70m-£80m, down from £100m-130m, due to lower full-year sales outturn. During the full-year period ended 31 December 2022, the online retail group said the guidance comes despite record sales of £2.25bn, boosted by +9.4% increase in THG Beauty…
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17 January
Ocado reveals Q4 revenues of £550m
Online retailer Ocado has announced revenues of £550m for 13 weeks ended 27 November 2022, an increase of 0.3% compared with last year. The strong revenues come as a result of a 1.9% increase in average orders per week, which rose to 382,000. Despite this the average basket value dropped…
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13 January
Very retail sales up 2.2% over Christmas period
Very Group has announced that its retail sales increased by 2.2% compared with the trading period in 2021 for the Christmas and Black Friday season, despite group sales dipping by 1.3%. Compared to the pre-pandemic period in FY19, retail sales were up by 19.6%. The group’s sales in the toys,…
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12 January
Asos revenues fail to climb over Christmas period
Asos has failed to capitalise on the festive season as revenues for the four months ended 31 December fell by 3%, reflecting tough trading conditions, delivery disruptions and weak consumer sentiment. According to the online fashion giant, it expects the “volatile” trading of the period to continue through the next…
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9 January
MusicMagpie agrees online deal with Walmart
MusicMagpie, a refurbished consumer technology and disc media retailer that operates in the UK and US, has made its refurbished disc media available to buy on Walmart’s website. The retailer also has other refurbished technology products set to launch early this year. Walmart’s website, which is said to be one…
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5 January
Amazon to axe 18,000 roles in bid to cut costs
Amazon has announced that it will axe over 18,000 roles across the group in a bid to cut costs following a business review that was launched last year. In a note to staff published today (5 January), CEO Andy Jassy said the reductions will include those that were first announced…
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Dec- 2022 -8 December
THG partners with Bynder for new digital asset management platform
THG Ingenuity, THG’s proprietary technology platform specialising in taking brands direct-to-consumers (DTC) globally has partnered with Bynder, a global leader in digital asset management (DAM). The partnership will support THG Ingenuity clients in delivering personalised digital experiences at scale across all stages of a multi-channel buyer journey. Brands can now…
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7 December
Moonpig lowers sales forecast ahead of uncertain Christmas
Greeting card retailer Moonpig has lowered its sales forecast for 2023 to £320m down from £350m in the half year to 31 October 2022. The company cited challenging trading conditions in October and November, including Royal Mail strikes, as the reason for changing its forecast. It has seen mild growth…
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