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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Jul- 2020 -15 July
Asos reports 10% sales rise during lockdown
Online fashion retailer Asos has reported a 10% increase in group sales to £1.01bn amid the Covid-19 pandemic and has said it is on “track” to deliver “strong profit growth” across its financial year. In the four months to 30 June, sales growth was driven by its international retail sales,…
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14 July
AO World reports ‘strong demand’ as revenues rise
AO World said it has experienced “strong demand” during the coronavirus pandemic, reporting a 20.3% increase in revenues to £901.6m, compared with £79.3m in 2019. However, revenues from its Europe arm decreased by 4.6% to €165.4m (£149.70m) during the year ended 31 March 2020, compared with €173.3m (£156.85m) in the…
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10 July
Online retail sales continue to boom despite reopenings
Even as the high street came out of hibernation last month, June’s online retail sales spiked to a 12-year high of +33.9% YoY, according to IMRG Capgemini’s Online Retail Index. It revealed that last month’s acceleration in online sales was underpinned by the “continued success” of almost every category. Electrical…
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9 July
OnBuy preps for global expansion
OnBuy has announced it will launch globally this summer, after securing a £5m investment. It comes as the online marketplace said it has seen “record sales” increase by 1100% in the past year, and now expects to be turning over £2bn in sales by 2024. The retailer said it will…
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6 July
NCA confirms probe into Boohoo working conditions
The National Crime Agency has confirmed it is investigating fashion retailer Boohoo following allegations of poor working conditions in a Leicester warehouse. An NCA spokesman told Retail Sector: “Within the last few days NCA officers, along with Leicestershire Police and other partner agencies, attended a number of business premises in…
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2 July
17 million UK consumers expected to permanently shop online post-Covid-19
Some 17.2 million British consumers plan to make permanent changes to the way they shop, as perceived risks of contracting Covid-19 at physical stores redirects spending into online channels. This is according to a new report by global professional services firm Alvarez & Marsal (A&M), in partnership with Retail Economics,…
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Jun- 2020 -25 June
The Very Group to cut 141 roles as part of tech restructure
The Very Group has announced it is set to cut 141 roles from its head office and customer care teams as part of a restructure which will also see around a 100 roles created elsewhere. The only retail group, which operates brands such as Very.co.uk and Littlewoods.co.uk, will further expand…
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24 June
Naked Wines reports £200m revenues in FY results
Naked Wines has reported a 14% increase in revenues to £203m for the full-year period ended 30 March, up from £178.4m the previous year. The company also revealed that losses before tax also reduced to £5.4m, compared with £10m in 2019. Naked Wines said the outbreak of the coronavirus pandemic…
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16 June
Covid-19 to add £5.3bn to UK e-commerce in 2020
The surge in online shopping caused by the Covid-19 pandemic is expected to add £5.3bn to UK e-commerce sales this year, to reach a total of £78.9bn. This is according to analysts at Edge Retail Insight, the global trend forecasting arm of retail insights firm Edge by Ascential, which have…
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May- 2020 -29 May
Eve Sleep reports revenues ‘in line’ with expectations
Eve Sleep has reported its group revenues have been “in line with expectations” for the four months ended 30 April, despite the Covid-19 pandemic. In the period to 30 April, the retailer reported net cash of £7.5m compared with £8m in its previous update (31 December 2019). Eve Sleep said…
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