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.
-
Jan- 2021 -12 January
The Hut Group revenue soars ahead of guidance in Q4
The Hut Group has announced that revenue soared by 51% to £558.7m in the three months ended 31 December 2020, outperforming a previous guidance of 40% to 45% growth. Revenue guidance was initially estimated to be 16% to 25%, but was raised last month following a “strong” peak trading performance…
Read More » -
12 January
Very records best ever Christmas sales
Very.co.uk has announced a 25.2% year-on-year increase in retail sales in the seven weeks up to and including 25 December 2020, marking the best recorded sales over a Christmas period to date. The increase in sales was predominantly due to Covid-19 pushing retail online, as government lockdown restrictions continued to…
Read More » -
11 January
Studio profits rise amid ‘strong’ Q3 trading
Online retailer Studio has welcomed “record” levels of trading during its third quarter ended 25 December 2020, with product sales up 32% against the prior year. In light of continued strong trading trends, its unaudited pre-tax profit for the 39 weeks to the end of December 2020 was around £16m…
Read More » -
8 January
Asos invests in new fulfilment centre
Asos has announced it will launch a new fulfilment centre which has the capacity to employ 2,000 people over the next three years. According to Sky News, the new centre, which is based in Staffordshire, will be backed by a £90m investment from the retailer. The news falls after the…
Read More » -
6 January
Online grocery sales double over festive period
The online share of grocery sales at UK supermarkets has doubled to 12.5% in the four weeks ending 26 December 2020, up from 6.7% last year, according to new data released by Nielsen. The rise in sales was predominantly due to a total of 8.5 million households shopping for their…
Read More » -
Dec- 2020 -24 December
Chinese market regulators investigate Alibaba ‘monopolistic’ claims
China’s State Administration for Market Regulation (CSAMR) has announced that Alibaba is being investigated by regulators over claims of “monopolistic practices”. According to the BBC, the retail group was previously warned about allegedly making its sellers sign “exclusive deals”, preventing them from trading on rival platforms. Last month, the company’s…
Read More » -
21 December
Boohoo appoints new auditor after PwC departure
Boohoo has announced that it has appointed PKF Littlejohn as the group’s new auditor, with immediate effect. PKF Littlejohn will replace PwC, who resigned from the role of Boohoo’s auditor in October. Prior to its resignation, PwC had worked as the fast fashion company’s auditor since its inception, back in…
Read More » -
18 December
Boohoo executives pledge to ‘fix things’ following scandal
Boohoo executives have reiterated their intentions to “fix things” at the company after a series of allegations over workers’ pay and conditions came to light earlier this year. The fashion retailer’s co-founder, Mahmud Kamani, told the BBC he wanted to “make everything better” following the allegations. It comes as an…
Read More » -
8 December
Studio exploring sale options as profits surge 52%
Studio Retail Group (SRG) has announced it is exploring sales options after seeing half-year profits increase 52% to £17.7m. For the 26-week period ending 25 September, Studio revealed that profits were boosted by a 17% increase in revenues to £268m up from £228.7m in 2019. It also revealed its active…
Read More » -
7 December
The Hut Group ups revenue guidance for second time this year
The Hut Group has upped its revenue guidance for the second time since its listing earlier this year, with it now expecting revenue to increase up to 40% YOY. In its latest trading update, the group said it has seen new customer acquisition trends “further accelerate” into Q4 across all…
Read More »
