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- 2022 -28 October
Amazon shares fall as group predicts sales slowdown
Amazon has seen its shares plummet by as much as 20% after it warned of a slowdown in sales for the upcoming quarter. It comes as the group reported that sales hit $127.1bn (£110bn) in the quarter ended 30 September, 2022, a rise of 15% against the prior year yet…
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27 October
Frasers takeover of MySale nears completion
Frasers Group has moved closer to completing its takeover of MySale, having received acceptance for more shares of the Australian marketplace. The Sports Direct owner currently holds 691,327,967 MySale shares, representing 66.48% of MySale’s entire issued share capital. As of 26 October 2022 however, Frasers said it owns or has…
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26 October
Made.com rescue talks collapse
Made.com has edged closer to collapse after rescue talks for the group fell through. Having invited a “select” number of parties to submit firm offers by the end of the month, the group said the potential buyers have since confirmed they were “unable to meet the necessary timetable”. In light…
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25 October
THG welcomes resilient Q3 and maintains FY guidance
THG has welcomed a “resilient” Q3 as revenues grew by 2.1% in the quarter ended 30 September, while THG Beauty and THG Nutrition reported growth of 4.9% and 2.9%, respectively. It comes as consumer behaviour during the third quarter remained “stable and consistent” despite current economic uncertainties, according to the…
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25 October
Very revenues top pre-pandemic levels in FY22
The digital retail operator of Very and Littlewoods, The Very Group, has revealed that its FY22 revenue has surpassed pre-pandemic levels, with Very revenue up by 12.6% and group revenue up by 4.8% against FY20. However, compared to its “best-ever” year in FY21, Very’s full-year revenue dipped by 4% to…
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20 October
Naked Wines axes roles in plan to ‘pivot to profit’
Naked Wines has made around 6% of its workforce redundant as part of a raft of measures to help the business “pivot to profit” and reset its cost base after weaker demand hit its profitability. It comes after investment into inventory spending and adding to its cost base did not…
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18 October
Sosandar revenues soar 72% in H1
Sosandar has delivered a strong performance in the first half of the year, with revenues soaring 72% to £20.9m as the group benefited from its “strategy, unique product offering and increasing brand awareness”. According to the online fashion retailer, trading throughout the period has been strong, with the group welcoming…
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18 October
Bensons for Beds buys Eve Sleep out of administration
Bensons for Beds has purchased the Eve Sleep brand for an undisclosed sum after the business entered administration yesterday (17 October). Under the transaction, Bensons will acquire Eve Sleep’s intellectual property, the evesleep.co.uk website and all creative, content and communication assets. Bensons intends to retain Eve Sleep as a standalone…
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17 October
Eve Sleep calls in administrators as it abandons sale process
Mattress company Eve Sleep has reportedly appointed New York-based Kroll Advisory as its administrator after abandoning its efforts to secure a buyer. The business is said to have tried restructuring and reducing its cost base, but “lacked” the scale to continue as an independent business. The news comes as the…
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17 October
Made.com seeks firm takeover offers by end of the month
Made.com has confirmed it has received a “number” of takeover proposals as it looks to secure a rescue deal by the end of the month. Following a number of non-binding indicative proposals, the group has now invited a “select” number of parties to “progress towards firm offers” by 31 October.…
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