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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Mar- 2021 -26 March
Argos to provide £500,000 to customers, amid CMA warranty findings
Argos has announced it will provide over £500,000 to customers who may have missed out on a cheaper extended warranty deal. The retailer was recently investigated by the CMA and has agreed to fix the way it sells extended warranties to customers and provide a “goodwill gesture” to those who…
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24 March
Amazon to reduce Deliveroo stake at IPO
Amazon’s stake in Deliveroo will fall to 11.5% following the group’s IPO, according to the IPO prospectus. The fall represents a 4.3% decline from Amazon’s current 15.8% stake, as roughly 23.3 million shares are to be sold, raising between £90.87m and £107.18m. This exit opportunity, alongside a dilution in its…
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23 March
Faire launches UK operations
Faire, an online wholesale marketplace, has announced its launch in the UK and Netherlands. Founded in 2017, the provider of tools and technology to small businesses has since grown 200% year-on-year. Faire is now valued at $2.5bn (£1.9bn) and serves over 170,000 independent retailers across the USA, with its brand…
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18 March
Eve Sleep losses narrow by £10m in FY20
Eve Sleep has revealed that its losses were cut by 83% from £12.1m to £2m in its full-year ended 31 December 2021, despite significant supply issues arising from the pandemic. In the same period, the group reported a revenue increase of 6%, from £23.9m in 2019 to £25.2m in 2020,…
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17 March
Zalando targets 10% share of European market
Zalando has revealed its plans to capture 10% of the European fashion market by 2025, with ambitions to grow its gross merchandise volumes (GMV) to more than €30bn (£25.6bn) in the same period. The fashion group will expand its footprint in Europe to eight further European markets: Croatia, Estonia, Latvia,…
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15 March
N Brown to expand third-party brands
N Brown has reportedly announced that it will be expanding the number of brands to its third-party roster, including Finery, Nobody’s Child and Wrangler, according to Drapers. Finery is set to launch on Simply Be later this month, while Nobody’s Child will appear on the site in April 2021. Joining…
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12 March
JD.com Q4 revenues up 31%
Chinese online retailer JD.com reported a 31% increase in revenues during the fourth quarter of the year to RMB224.3bn (£24.7bn). The Q4 performance has beaten analyst expectations of RMB 220.3bn (£24bn) as the Covid-19 pandemic drove consumers to its online operations. The retailer also reported that income from operations for…
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12 March
Very Group prepares for hybrid working model
Very Group has announced that it will be adopting a hybrid working model going forward for all its employees. The Littlewoods.com and Very.co.uk operator renovated its Liverpool-based headquarters to accommodate its 2,100 members of staff oscillating between working on site and at home. The renovations, carried out by Greenmount Projects,…
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11 March
Monzo backer welcomes retail investors
Passion Capital, an early investor backer of Monzo, is reportedly set to welcome retail investors with the launch of a £45m fund. According to City AM, the group’s third fund will be open to “sophisticated” investors of “high net worth,” who are also registered with Seedrs, the crowdfunding platform. The…
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9 March
Online retail sales up 70% in February
Online retail sales reportedly increased 69.5% year-on-year in February 2020, as Boris Johnson’s ‘roadmap’ out of lockdown supported consumer confidence. While the figure is slightly lower than January’s 74% growth, it is above the three, six, and 12-month rolling averages of 57.1%, 42.5%, and 42.7% year-on-year respectively. According to the…
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