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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May- 2022 -30 May
Asos and Curry’s among retailers to warn Sunak against OST
A group of 11 retailers, including Asos, Currys, and Gymshark, have reportedly urged the government to abandon plans for an online sales tax warning that it would “hurt, not help the high street”. According to The Telegraph, in a joint-letter to the chancellor the retailers noted that sales tax would…
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27 May
Mango debuts new digital wellness line
Mango, the European fashion group, is opening a new wellness line by integrating a selection of the Rituals catalogue and stock onto its online platform, in a bid to extend its commercial offering and service to customers. Mango’s marketplace will feature 150 Rituals products in six categories: bath and shower,…
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26 May
John Lewis enters childrenswear rental market
John Lewis and Partners has announced it is launching a trial with thelittleloop to give parents the choice to rent their children’s clothing. An initial 51 items of clothing for children and babies up to age 12 are available from today (26 May). Customers can swap their rented clothing at…
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23 May
Barclay Family to revive Very Group IPO plans
The owners of the Very Group, the Barclay family, are reportedly set to revive plans to float the company next year after initially postponing the idea due to unfavourable market conditions. According to The Sunday Times, the Barclay Family, which values the company at around £4bn, has offered incentive packages…
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20 May
THG rejects £2bn bid as Nick Candy eyes takeover
THG announced it has rejected a takeover bid of over £2bn from the investment companies Belerion Capital Group Limited (Belerion) and King Street Capital Management L.P. (King Street). The announcement comes as the board confirms it is in the early stages of considering a possible offer from Nick Candy, owner…
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16 May
Made.com appoints new CFO as it issues profit warning
Made.com has issued a profit warning as gross sales and revenues are expected to drop -15% and -7% respectively, differing from the initial 0% and 7% expected growth in sales and revenue this year. The company has also appointed Patrick Lewis as its new chief financial officer, with effect from…
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16 May
Brightpearl launches ‘Growth Hacking’ podcast for online retailers
Bristol, UK, and Austin, Texas-based tech firm, Brightpearl, is launching its first podcast, the ‘Lightning 50 E-Commerce Growth Hacking’ show. Hosted by industry expert Caroline Baldwin, the podcast is a weekly 15-minute bitesize show in which Baldwin interviews retail luminaries from high growth companies. Each guest on the show has…
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10 May
Fruugo revenues surge 57% to £30.7m
Online global marketplace Fruugo has seen its FY21 revenues surge 57% to £30.7m, over 220% on a two-year basis, which it attributed to the “quality and scalability” of its marketplace platform and proprietary technology. Fruugo also confirmed that for the 52-week period ended 31 December 2021, that adjusted EBITDA increased…
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9 May
Made.com acquires Trouva to accelerate expansion
Made.com Group Plc has announced the acquisition of Trouva to accelerate the group’s strategic priorities around choice and reach. Trouva is the platform to discover independent boutiques and brands offering customers a curated range of homewares, lifestyle and fashion products. The company has relationships with over 700 boutiques across Europe…
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5 May
Next Q1 sales surge 22% despite online hit
Next plc has reported that its full price sales surged 22% year-on-year for the 13 weeks to 30 April (Q1), and 21% compared to pre-Covid levels, which is in line with expectations. However, total online sales in the UK fell 11% compared to the same period last year, although this…
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