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 -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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3 May
Missguided gains interest from Asos, Shein, JD Sports and Frasers Group
Online womenswear retailer Missguided is reportedly attracting interest from Asos, Shein, JD Sports, the Frasers Group and the Issa brothers (the owners of Asda), all of whom are said to be in talks to buy the company. According to Drapers, private equity giants are also circling and sales documents are…
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Apr- 2022 -29 April
Victoria’s Secret and PINK Beauty launches on Amazon
Victoria’s Secret and Co. has launched its Victoria’s Secret Beauty and Pink Beauty products in Amazon’s store, with approximately 120 different products available and eligible for delivery with Prime. The assortment of products will also be available in the Victoria’s Secret storefront. Victoria’s Secret said the collaboration is the latest…
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29 April
Amazon shares tumble amid first loss since 2015
Amazon shares have taken a 10% hit after reporting a net loss of $3.8bn (£3.02bn) in the first quarter ended 31 March 2022 (Q1), due to inflationary and supply chain pressures, marking its first loss since 2015. The net loss includes a pre-tax valuation loss of $7.6bn (£6.05bn), and Amazon’s…
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25 April
MusicMagpie to launch on Back Market
MusicMagpie has secured a contract to sell consumer electronic products on Back Market, an online marketplace that is dedicated to refurbished devices. The recommerce group said its products will feature on the Back Market UK marketplace by the end of this month, and on the Back Market US marketplace in…
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21 April
Hugo Boss to launch premium resale platform
Hugo Boss is set to launch its premium resale platform in the third quarter of 2022 where customers can buy pre-owned items. It will first be launched in France, with the platform planned to expand to Germany, the UK, and the US in 2025. The platform, ‘Hugo Boss Pre-Loved’ will…
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21 April
THG rebuffs ‘unacceptable’ takeover proposals as revenues hit £2.2bn
The Hut Group (THG) has recorded “record” revenue growth of 38.1% year-on-year from £1.6bn to £2.2bn in the full year ended 31 December 2021 (FY21), driven by organic growth in all divisions and supplemented by the contribution from acquired businesses. According to its latest trading update, The Hut Group has…
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20 April
Missguided CEO steps down as advisory firm brought in
Missguided’s founder, Nitin Passi, is set to step down from his role as chief executive officer (CEO) after the womenswear retailer appointed Teneo, an advisory firm, to explore “strategic options” for its future. However, Passi will remain on Missguided’s holding company board to represent his family’s ongoing stake in the…
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20 April
Naked Wines to meet expectations as sales rise
Naked Wines has revealed its full-year results are set to meet its expectations after strong customer retention saw its sales increase 5% YOY. In the update for the fiscal year ended 28 March 2022, it added that sales on a two-year basis increased 77% constant currency vs continuing operations in…
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19 April
Sosandar appoints independent non-executive director
Sosandar, the online women’s fashion brand, has announced the appointment of Jon Wragg as an independent non-executive director with immediate effect. Wragg is a senior executive with experience in driving growth in consumer businesses through digital channels. He has worked with global brands across different product categories, with experience in…
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