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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Oct- 2020 -28 October
Notonthehighstreet mulls £200m sale
Notonthehighstreet is reportedly eyeing a £200m sale after its revenues “surged” during the coronavirus pandemic, according to Sky News. The online gifts retailer is reportedly working alongside investment bank Evercore on a potential auction, and sources told Sky that a “number” of trade bidders and private equity groups have so…
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26 October
Hut Group raises forecast amid ‘strong’ trading period
The Hut Group has announced that group revenue soared by 38.6% to £378.1m in the three months ended 30 September 2020. This represents an acceleration against the reported H1 2020 revenue growth rate of 35.8%. In the same period, direct-to-consumer online revenues surged by 51.3% to £320.2m year-on-year, compared to…
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22 October
Sky set to open first retail stores
Sky has announced it is launching its first ever bricks-and-mortar retail shops across the UK, in a bid to “bring Sky’s leading customer service and innovative pay TV, mobile and broadband products to the UK high street, under one roof”. Its first shops are set to open later this year,…
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22 October
Gear4music full-year results to be ‘ahead of expectations’
Gear4music has revealed its full year results will likely be ahead of expectations after it experienced strong sales growth in its first and second quarters. The online musical instrument retailer saw its total sales rise 42% to £70.2m in the six months to 30 September, after UK sales increased by…
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21 October
BRC launches toolkit to combat retail cyber attacks
The British Retail Consortium (BRC) has developed a new toolkit which supports business leaders in taking steps to reduce the threat of a cyber attack in the retail sector. Experts from the National Cyber Security Centre (NCSC) have assisted in the production of the BRC’s toolkit. The ‘Cyber Resilience Toolkit…
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15 October
AO World H1 revenues surge 57%
Online retailer AO World has reported a 57% increase in revenues for the six month period ending 30 September 2020. In an interim trading update AO World said it expects group revenue for the period to be £715m. It also revealed that UK revenue increased by 54% and in Germany…
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13 October
UK Flooring Direct continues ‘rapid’ expansion
UK Flooring Direct has opened a new warehouse and offices following the continued positive performance of the business throughout lockdown. The online flooring retailer announced it has moved to a 54,000 sq ft unit on Prologis Park in Coventry. The relocation is part of the firm’s plan to see 70…
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9 October
N Brown grows retail team with appointments
N Brown Group has expanded its retail team following the appointment of Sarah Welsh as CEO. Shailina Parti has joined the digital clothing retailer as the group buying director, joining from Jigsaw Clothing. Neil Hendy has been appointed as group design director, who joins from senior design roles at Coast…
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8 October
Very Group revenue tops £2bn for first time
The Very Group has announced a return to profit as group revenue rose by 2.9% in the full-year to top £2bn for the first time in its history. The group reported a pre-tax profit of £48m and underlying EBITDA of £264m, both of which included coronavirus-related costs. Very.co.uk retail sales…
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8 October
Ebay UK to launch ‘Pay As You Go” scheme
Ebay UK is set to launch the ‘Pay As You Go’ scheme for start-ups, in response to the economic downturn resulting from Covid-19. From 9 October, the e-ecommerce site will remove all fees for first time sellers for their first 100 sales each month and fees will be “significantly” reduced…
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