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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Jun- 2022 -16 June
THG rejects ‘undervalued’ takeover approaches
THG has announced it has rejected all unsolicited proposals for the company deeming them to be “unacceptable” and to “significantly undervalued the company”. In a statement released this morning ( 16 June) it said that as confirmed in the company’s preliminary FY 2021 results on 21 April 2022, THG has…
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16 June
Asos names new CEO and chair amid profit warning
Asos has warned of lower profits this full year due to uncertain consumer purchasing behaviour and the continuation of higher return rates, with revenue growth expected to be 4% to 7% and pre-tax profits now expected to be in the range of £20m to £60m. The announcement comes as Asos…
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15 June
A&F partners with Gophr to expand same-day delivery to UK stores
Abercrombie and Fitch Co. has announced its plans to expand its same-day delivery service to the majority of its UK store fleet, which will include over 30 Abercrombie and Fitch, Abercrombie Kids and Hollister locations. The retailer has partnered with Stuart, Gophr and software provider, Delivery Solutions, to “build on…
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14 June
Walmart to recruit UK sellers to US online marketplace
Walmart has begun a push to bring UK exporters to its flagship US Walmart Marketplace in a move to embrace UK exporters and expand Walmart’s engagement with UK retailing. Sellers approved to join the marketplace will be offered the services of an onboarding team, as well as access to tools…
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13 June
Online retail growth drops 8.7% in May
Online retail sales growth declined -8.7% year-on-year in May 2022, despite being measured against a negative performance in May 2021 (-6%), as trading conditions continue to be “very tough”. According to the latest IMRG Capgemini Online Retail Index, which tracks online sales for 200 retailers, May’s results also represented a…
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10 June
Amazon Fashion launches Virtual Try-On for Shoes on iOS
Amazon Fashion has announced the launch of Virtual Try-On for Shoes, an interactive mobile experience that “uses augmented reality to help customers visualise how a pair of shoes will look on themselves from every angle and to better inform purchasing decisions, from the comfort of their home or on the…
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10 June
THG to gift shares to 500 staff
Online beauty retailer THG has announced it is to gift shares to 500 of its employees. The Manchester-based firm said it will reward the selected members of staff below executive level subject to “achievement of various targets”. THG said an application has been made to the Financial Conduct Authority (FCA)…
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8 June
Amazon seizes 3 million fake products amid counterfeit crackdown
Amazon has revealed it has identified, seized, and disposed of more than three million counterfeit products in 2021, and has sued or referred over 600 criminals for investigation in the US, UK, EU, and China, up more than 300% compared to 2020. In its latest Brand Protection Report, Amazon revealed…
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1 June
Frasers Group buys Missguided out of administration for £20m
Frasers Group plc has bought online women’s fashion retailer, Missguided, out of administration for a cash consideration of £20m. The group has acquired certain intellectual property of Missguided Limited (in administration), Mennace Limited (in administration) and Missguided (IP). Following the completion of the sale, the business will be operated by…
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May- 2022 -31 May
Missguided collapses into administration, 140 jobs at risk
Online fashion retailer, Missguided, has fallen into administration after failing to secure a rescue bid for the company. According to the Guardian, the collapse puts approximately 140 jobs at risk, with over 80 employees having reportedly been made redundant immediately. Teneo Financial Advisory revealed Dan Smith, Daniel Butters and Benji…
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