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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Feb- 2022 -17 February
Hotter FY22 revenues rise to £51.9m
The Unbound Group has reported a 16% increase in revenues for its subsidiary, Hotter Shoes (Hotter), in the financial year ending 30 January 2022 (FY22), up from £44.5m in FY21 to £51.9m. Hotter has also announced a partnership with M&S to sell Hotter products on the ‘Brands at M&S’ platform,…
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15 February
January sees lowest rate of online retail growth ever recorded
January saw the lowest rate of online retail growth ever documented in 22 years of tracking at -24.4% Year-on-Year (YoY), according to the IMRG Capgemini Online Retail Index. The index, which tracks the online sales performance for over 200 retailers, ended 2021 at +2.7% total growth in the market, which…
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15 February
MySale revenues dip amid inventory challenges
International online retailer MySale has announced that revenues fell by 6% to A$59.7m (£31.5m) in the six-month period to 31 December 2021, following a changing sales mix and growth of the marketplace channel. Gross Merchandise Value increased by 36% to A$86.7m (£46m) however, reflecting progress in scaling the group’s off-price…
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14 February
Studio Retail to appoint administrators amid failure to acquire £25m loan
Studio Retail, the digital value retailer, has announced its intention to appoint administrators to SRG and Studio Retail Limited, its wholly owned subsidiary, to protect the interests of its creditors. The announcement comes as Studio Retail, previously known as Findel, has been unable to reach an agreement with its UK…
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14 February
Pricer names acting CEO
Pricer, the retail technology company which specialises in electronic shelf labels, has appointed Magnus Larsson as its acting CEO. Magnus Larsson has been vice president of customer operations at Pricer since he joined the company in 2019 and is a member of the management team. He succeeds Magnus Midgard as…
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10 February
CMA designates Amazon as a grocery retailer to ‘protect suppliers’
The Competition and Markets Authority (CMA) has designated Amazon under the Groceries Market Investigation Order, meaning the company and its relevant UK subsidiaries must now comply with the Groceries Supply Code of Practice. The announcement follows Amazon’s “increasing” activity in the UK groceries’ sector in recent years, and the industry…
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9 February
Very expands beauty and self-care ranges by 94%
The Very Group has expanded its range of beauty and self-care brands on Very.co.uk by 94% since the start of the pandemic, as the online retailer reportedly sees growing demand for wellbeing products. Since January 2020, Very has added 77 new beauty and personal care brands, taking the category total…
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8 February
Ocado FY21 losses widen amid labour shortages and robotics roll-out
The Ocado Group has reported a loss before tax of £176.9m for the 52 weeks ending 28 November 2021 (FY21), down from £52.3m in FY20, following the group’s investment in robotics and AI technology and the opening of five global fulfilment centres. Ocado said it was hit by labour market…
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7 February
MusicMagpie expands service amid subscription economy boom
MusicMagpie has announced that it has expanded its rental subscription service to offer new product categories that include tablets, games consoles and MacBooks, as the subscription economy continues to witness a boom across the UK. Having launched in October 2020, its smartphone service has reportedly attracted around 13,500 active subscribers…
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4 February
Amazon Q4 profits hit $14.3bn
Amazon has reported its profits increased to $14.3bn (£10.53bn) in the fourth quarter ending December 31, 2021, with sales surging by 9% year-on-year from $125.6bn (£92.5bn) to $137.4bn (£101.2bn) Operating income decreased 49% from $6.9bn (£5.08bn) compared to $3.5bn (£2.5bn) in Q4 FY21. Meanwhile, operating income for the full year…
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