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 -13 October
MySale asks shareholders to accept Frasers offer
The board of MySale has asked its shareholders to accept Frasers Group takeover offer despite it “unanimously believing” that it undervalues the company. The news comes after Frasers made a cash offer by Frasers for the entire issued and to be issued ordinary share capital of MySale, at 2 pence…
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10 October
Studio Retail audits to be investigated by watchdog
The Financial Reporting Council (FRC) has revealed it has commenced an investigation in relation to the audit conducted by Mazars LLP of the financial statements of Studio Retail Group plc for the period ended 26 March 2021. The decision was made at a meeting of the FRC’s Conduct Committee on…
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7 October
Farfetch to accept cryptocurrency payment option
Farfetch, the global platform for the luxury fashion industry, has announced that it will offer cryptocurrency as a payment method on the Farfetch Marketplace for customers in 37 countries. Farfetch said it will initially accept six cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), among others. Customers with an…
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6 October
N Brown profits plunge amid weakened consumer confidence
N Brown has seen its pre-tax profits plunge 74.6% to £7.2m in the first half of the year, as weakened consumer confidence led to a “more challenging” online retail market and subdued half-year revenues. Revenues dipped by 4.6% to £331.5m in the period, while the online retail market was down…
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4 October
Made.com begins talks with prospective buyers
Made.com has announced that it has entered into non-disclosure agreements and begun discussions with a number of interested parties for the sale of the group. The interested parties will be provided with additional information on the group and will be invited to put forward non-binding indicative proposals in mid-October. The…
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Sep- 2022 -30 September
Made.com H1 losses widen amid lower demand
Made.com has revealed its loss before tax has dropped by 25.2% to £35.3m for the six months to 30 June 2022 (H1 FY22), down from a loss of £10.1m in the same period last year. Adjusted EBITDA also declined by 32.6% year-on-year from £1.1m to a loss of £31.5m amid…
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28 September
Boohoo warns of further sales decline as profits drop 90%
Boohoo has warned that its sales are likely to be hit over the remainder of the financial year due to increases in inflation-driven costs and lower sales than previously anticipated for the six months ended 31 August 2022 (H1). Revenues are expected to continue to decline and adjusted EBITDA margins…
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23 September
Made.com to shed workforce amid plans for company sale
Made.com could reportedly cut over a third of its headcount alongside plans to explore a potential sale of the group, as part of a board decision to conduct a formal review of the business amid “continued uncertainty” and challenging trade. In order to reduce costs amid the current trading environment,…
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21 September
Eve Sleep losses widen amid ‘appalling’ market conditions
Eve Sleep, a direct-to-consumer sleep wellness brand, has reported EBITDA losses of £4.2m for the first half of 2022, compared with a loss of £1.9m for the same period the year prior. The report saw revenues down 16% to £11.6m for the six months ended 30 June 2022, compared with…
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20 September
Moonpig reiterates FY guidance as trading remains stable
Moonpig has said that its overall trading performance has been in line with its expectations in its latest trading update for the current financial year. In light of this, the group has kept to its existing guidance for the full financial year. It has also prioritised greeting card sales, which…
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