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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Sep- 2022 -15 September
THG losses widen despite revenues passing £1bn
THG has revealed its losses widened to £89.2m in the first half of the year to 30 June, despite seeing revenues surpass £1bn. The online retailer said the loss reflected “consumer price protection investment strategy”, however its medium-term guidance reiterated with cost efficiencies and commodity price improvements should support margin…
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Aug- 2022 -31 August
Boohoo warns suppliers risk further HMRC costs over polybag content
The Boohoo Group has reportedly been charged by HMRC as some of its polybags don’t have the certificate to confirm their recycled content. According to Drapers, Boohoo Group sent a letter to product suppliers on 26 August which said that this charge will be passed on to suppliers if they…
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24 August
Richemont agrees deal to offload YNAP stake to Farfetch
Richemeont has revealed it has agreed a deal to offload a majority stake of its e-commerce unit Yoox-Net-A-Porter (YNAP) to Farfetcth and Emirati investor Alabbar. The deal will see Farfetch and Alabbar acquire a 47.5% and 3.2% stake respectively in YNAP, and the agreement for Richemont and YNAP each to…
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23 August
Made.com director steps down as group mulls equity raise
Made.com has announced that one of its senior directors, Gwyn Burr, has stepped down from the board with immediate effect, amid reports the group is looking to shore up its cash reserves through a fresh equity raise. Burr cited her reason for leaving as “a need for her to give…
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22 August
Amazon Fresh rollout put on pause
Amazon has reportedly paused its plans to expand its checkout-free convenience stores, according to The Times, amid weaker sales and the current economic outlook. The Times claims the retail giant has “walked away” from talks on “dozens” of sites for its Amazon Fresh stores, whilst calling off a search for…
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18 August
AO swings to £37m loss in FY amid rising costs
AO has fallen to a pre-tax loss of £37m in the full-year ended 31 March 2022, down from a profit of £20m the prior year, as the electrical retailer contended with rising costs and warned of “more volatility” to come. Group EBITDA plummeted 87% to £8.5m over the period, attributed…
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11 August
Mattress Online to open first fully branded site in Sheffield
Mattress Online is set to open its first fully branded store as part of its plans to expand into bricks and mortar trading. Having acquired the Skipton Bed and Sofa Centre earlier this year, the group has now added the site of Sheffield bed outlet, Eades and Co, to its…
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Jul- 2022 -29 July
Amazon posts £1.6bn loss in Q2
Amazon has fallen to a net loss of $2.0bn (£1.6bn) in its second quarter, down from a profit of $7.8bn (£6.4bn) in the second quarter of 2021. This loss reportedly includes a pre-tax valuation loss of $3.9bn (£3.2bn) included in non-operating expenses from Amazon’s investment in Rivian Automotive, an electric…
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28 July
Unbound confirms launch of new marketplace
Unbound Group plc has confirmed the initial launch of its new multi-brand platform, as scheduled, and the further Autumn Winter launch of the platform is on track to be completed in September. Alongside its Hotter brand, the group is initially launching with the first seven chosen partner brands, primarily focused…
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27 July
Amazon prime raises subscription price amid rising costs
Amazon has announced that it will increase the cost of its monthly Prime subscriptions from £7.99 to £8.99 from 15 September 2022, due to increased inflation and higher operating costs. The price of the annual Prime membership will increase from £79 to £95, and this marks the first time Amazon…
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