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- 2019 -24 April
Boohoo revenues surge 48% in 2018
Online fashion retailer Boohoo has reported a 48% increase in revenues to £856.9m for the year ending 28 February 2019. Pre-tax profit also jumped 39% to £59.9m, and adjusted EBITDA increased to £84.5m, 9.9% of revenue, compared with the £56.9m reported the previous year. Additionally, its PrettyLittleThing and Nasty Gal…
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24 April
Majestic Wine could sell all UK stores as it moves online
Specialist wine retailer Majestic Wine could sell all 200 of its UK stores as the business prepares to move its operations online under the Naked Wines brand. The company has reportedly appointed investment bank Rothschild and Co to discuss options on a potential sale. Last month, the company announced its…
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23 April
Asos and Zalando retail tycoon loses children in Sri Lanka attacks
Anders Holch Povlsen, a Danish billionaire with stakes in both Asos and Zalando, has lost three of his four children in the Sri Lanka bombing attacks. His family were visiting the country over the Easter break and a spokesman for Bestseller, the international clothes retailer chain Holch Povlsen owns, confirmed…
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10 April
Asos hit by 87% profit fall
Online clothing retailer, Asos has announced an 87% fall in pre-tax profits down to £4m for the six months leading up to 28 February, against results for the same period during the 2018 financial year. The retailer blamed its profit plunge on a difficult year caused by “heavy discounting” and…
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5 April
Asos threatens to shut down accounts to deter serial returners
Online retailer Asos has updated its returns policy with a clause to deactivate the accounts of shoppers it suspects are returning clothes after they have been worn. The retailer sent an email to customers directing them to its updated terms and conditions page. Under the returns and refunds section, Asos…
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4 April
AO announces £15m of stockpiling ahead of Brexit
Electronics retailer AO has announced plans to stockpile £15m worth of popular products as part of its Brexit contingency plan. The online-only retailer said the move will help “ensure [it] can continue to deliver [its] market-leading proposition to customers”. The announcement was made in the group’s preliminary trade update for…
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Mar- 2019 -27 March
Shopper satisfaction with online delivery falls
New research has suggested that there has been a “notable decline” in shopper satisfaction with online delivery, after several years of it remaining stable. The findings come from the IMRG Consumer Delivery Review 2018, an annual survey asking 2,000 UK shoppers 50 questions to understand their perceptions of online delivery.…
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21 March
Carphone Warehouse rebuked over ‘Cyber Monday’ promotion
Carphone Warehouse has been rebuked by the Advertising Standards Authority (ASA) over an iPhone promotion. Four complainants who had attempted to take up the offer which stated “Apple iPhone XR £36.00 P/M free handset 100GB data cyber monday”, and were later told their order could not be processed, challenged whether…
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19 March
Asos sales jump 13%
Online retailer Asos has reported a 13% increase in total sales on a reported basis, for the three months ending 28 February 2019. Total orders placed during the period increased by 15% to 17.3m year-on-year, and retail gross margin increased by 40 bps. Additionally, the retailer said it continued to…
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18 March
Zalando discontinues private label business
Zalando, the online platform for fashion and lifestyle, has announced it will discontinue its private label business zLabels as it aims to unite all of its private labels and partner brand assortments under one roof. ZLabels will be discontinued as of April 1, 2019 and starting spring/summer 2020, Zalando said…
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