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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Apr- 2021 -26 April
25% of young people can’t pay bills due to Buy Now Pay Later repayments
Around a quarter of young people in the UK who are making Buy Now Pay Later (BNPL) repayments haven’t been able to pay for food, rent or bills as a result, according to Citizens Advice. New research from the charity revealed that 45% of 18 to 34 year olds in…
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20 April
M&S boosts online capacity through new warehouse
M&S has announced that work has begun on its Bradford Distribution Centre, which is set to become a second online warehouse for M&S.com in efforts to increase its online capacity. The reengineering of the group’s supply chain, including the extension of the Bradford warehouse, is an “important enabler” to M&S’s…
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20 April
OnBuy appoints Aron Cody-Boutcher as CMO
Online marketplace OnBuy has announced the appointment of Aron Cody-Boutcher as chief marketing officer (CMO) at the group. In the new position, Cody-Boutcher will be tasked with accelerating the company’s growth alongside Cas Paton, founder and CEO at OnBuy. Cody-Boutcher provides the role with over two decades of experience in…
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19 April
Studio set to welcome ‘record’ performance in FY21
Studio has provided an update on its “record” trading performance in the year to 26 March 2021 with adjusted pre-tax profit expected to be in the region of £48m to £50m, up 75% to 83% on £27.3m in FY20. The group noted that trading in the traditionally quieter final quarter…
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16 April
MusicMagpie plans £208m London float
MusicMagpie, the e-commerce retail business, has announced plans for a £208m float on the London Stock Exchange. The proposed admission to trading on AIM would place 7,772,020 new ordinary shares and 49,415,850 existing ordinary shares of one pence each, both at a placing price of 193 pence. The new shares…
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16 April
‘We need to do a better job for our employees’, says Bezos
Amazon founder Jeff Bezos has said that Amazon must “do a better job” for its employees in his final letter to company shareholders. Bezos, who is set to step down from his role as CEO this year, said: “Despite what we’ve accomplished, it’s clear to me that we need a…
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15 April
AO World FY21 revenues hit £1.66bn as UK sales surge
Online retailer AO World has revealed its FY21 group revenues increased 62% to £1.66bn, thanks in part to a strong Q4 performance from its UK website. It comes as AO.com reported an 88% increase in year-on-year revenues in Q4 as the group welcomed an additional 2 million customers during the…
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15 April
The Hut Group revenues soar 42% in ‘milestone’ year
The Hut Group has announced that group revenues soared by 42% to £1.6bn in its full-year results, as the wider consumer shift to digital channels “continued apace”. In what was a “milestone” year for the group, EBITDA was up by 35% to £150.8m in the period and new customers rose…
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13 April
Online sales continue ‘solid’ growth in March
Online retail sales continued to show strong growth in March, soaring 71.7% year-on-year, despite the upcoming end of lockdown and promise of in-store shopping in April, according to the latest IMRG Capgemini Online Retail Index. With last March coinciding with the start of lockdown, however, this growth must be put…
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12 April
Alibaba accepts $2.8bn fine for breaching Chinese competition laws
E-commerce giant Alibaba revealed it has accepted a record $2.8bn (£2bn) fine from the Chinese regulator the State Administration for Market Regulation (SAMR) for breaking competition laws. The news comes after a probe by the regulator found that it had restricted sellers from working with rival platforms and had forced…
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