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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Jan- 2019 -8 January
Missguided posts £46.7m loss
Online fashion retailer Missguided has posted a £46.7m loss in its financial results for the 53 weeks ending 1 April 2018 in what it described as an “extremely challenging” year. This is compared with a loss of £1.6m in the 2017. The company said its profitability was “severely impacted” by…
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4 January
Gear4Music issues warning despite 41% sales growth
Gear4Music has issued a warning on profit for 2019 saying it would be “slightly below” last year’s results. The warning comes against the backdrop of a 41% year-on-year sales growth, which has seen sales rise to £48.7m. The group also announced that UK sales had risen by 36% to £25.5m,…
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3 January
Moss Bros appoints former Missguided boss
Gareth Jones, former online chief executive of Missguided, has joined menswear retailer Moss Bros as a non-executive director. Jones left his role at Missguided after eight months in May last year having joined the online fashion store from his post as deputy chief executive at Shop Direct in December 2016.…
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2 January
Online retailer Mahabis falls into administration
Mahabis, a specialist online retailer known for its premium slippers, has announced it has gone into administration. The company has ceased trading since it enlisted administrators KPMG on 27 December. It also warned that any customers who returned items would have an “unsecured claim” for any funds owed and added…
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Dec- 2018 -19 December
Lowest November growth in seven years for online retail
UK online retail sales suffered its worst November growth since 2011 last month coming in at just +8.1% year-on-year (YoY), as Black Friday discounting failed to encourage consumer spending, according to the latest IMRG Capgemini e-Retail Sales Index. November fell below the three- (+8.3%), six- (+10.5%) and 12-month (+12.2%) sales…
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18 December
HMV’s Hong Kong operations enter liquidation following 41% revenue fall
HMV is to wind up its Hong Kong stores after entering liquidation today (18 December), the company blamed a 41% revenue fall on the previous year along with the “global development of information and economic climate”. The retailer said the company’s insolvency was also to blame for the liquidation along…
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18 December
Brits to spend £1.65bn on last minute Christmas purchases
Some 14.9 million shoppers are expected to spend £1.65bn on last minute Christmas purchases, new research by discount code website VoucherCodes and the Centre of Retail Research (CRR) has revealed – equating to £2.38m per minute. Falling on 22 December, ‘Super Saturday’ is expected to see 10.1 million people descend…
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17 December
Asos issues profit warning after tough November trading
Online fashion retailer Asos has issued a profit warning due to its performance in November coming in “significantly behind” expectations. This is despite a 14% sales increase in its first quarter trading and September and October coming in “broadly in line” with expectations. However economic uncertainty plus weaker consumer confidence…
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13 December
Ocado’s 12% sales increase marks ‘good finish to the year’
Online supermarket Ocado has seen a 12% increase in revenue to £390.7m for the 13 weeks to 2 December in its Q4 financial results. This was compared to a revenue of £348.9m in the same period last year and the group said its growth was in line with its guidance…
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12 December
Walmart to acquire online home decor retailer Art.com
US retail group Walmart has announced it is to acquire online home decor retailer, Art.com for an undisclosed sum. The retail group is expected to close the deal next year, which it says will “enhance the customer experience” in the wall art sector. Art.com, which has been running since 1998,…
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