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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Nov- 2024 -28 November
Very Group losses widen in Q1
The Very Group has revealed that its loss-before-tax rose to £22.9m in the 13 weeks ended 28 September 2024, an increase of £5.8m. Alongside this, Very saw its sales fall 5% to £450.2m, with revenue for Very UK falling 3.8% to £392.1m and Littlewoods revenue down 14.4% to £45m. Very…
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1 November
Amazon Q3 beats expectations as net income hits $15bn
Amazon has revealed it has beaten its Q3 expectations as its revenues surged 11% to $158.9bn (£123.3bn), beating analyst predictions of $157.2bn (£121.9bn), while its net income hit $15.3bn (£11.9bn), up from $9.9bn (£7.7bn) last year. It comes as the retail giant noted that North America segment sales increased 9%…
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Oct- 2024 -31 October
Ocado Group announces new chair
Ocado Group has announced the appointment of Adam Warby as an independent non-executive chair of the board. He currently serves as chair of Heidrick and Struggles InternationalInc, a provider of global leadership advisory and on-demand talent solutions. He will join the board as an independent non-executive director with effect on…
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28 October
Amazon grocery boss to step down
Amazon grocery boss Tony Hoggett has revealed that he is set to step down from his position at the company to “pursue the next chapter of his career”. Hoggett joined Amazon back in 2022 as senior vice president of worldwide grocery stores. Previous to this he was Tesco group chief…
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24 October
Very Group profits jump 17% amid ‘careful cost management’
The Very Group has revealed that its pre-exceptional operating profit jumped 17.1% to £218.3m for the year ended 29 June 2024. Furthermore, the group’s EBITDA rose 8.4% to £267.6m, up from £246.9m in the previous year. Alongside this, Very UK revenue increased 0.7% to £1.84bn however its group revenue declined…
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24 October
Amazon expands same-day delivery to 80 towns and cities
Amazon has announced the expansion of its same-day delivery service to 80 towns and cities, with Aberdeen, Middlesbrough, and Plymouth the most recent additions. Same-day is Amazon’s fastest delivery speed, allowing Prime members to shop millions of products and receive their order conveniently at home, or at a pickup location…
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23 October
Virgin Wines returns to profitability in FY24
Virgin Wines has reported a return to profitability in the year to 28 June 2024, as profit before tax rose by £2.4m to £1.7m, up from a previous loss of £700k. While total revenues held steady at £59m, the wine retailer’s adjusted EBITDA rose 59% to £2.8m and gross profits…
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21 October
UK serial returners to drive £6.6bn in online returns in 2024
The retail sector is currently seeing a surge in the number of ‘serial returns’, with an estimated £6.6bn of online returns in 2024, according to the Annual Returns Benchmark Report 2024 conducted by returns specialists ZigZag, in partnership with Retail Economics. The report stated that serial returners, accounting for one…
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11 October
THG raises £95m to fund Ingenuity demerger
THG has raised over £95m to fund the demerger of its Ingenuity arm, which is set to become a standalone and independent company, after receiving “strong support” from new investors and existing shareholders.The oversubscribed and upsized fundraise of £95.4m comes as existing shareholders contributed around £50m, while CEO Matthew Moulding…
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10 October
Amazon launches new AI-powered tools for shoppers and drivers
Amazon has unveiled new AI-powered initiatives for both shoppers and delivery drivers, including the launch of AI Shopping Guides, product guides that will leverage AI for shopping guidance and product recommendations for customers.Alongside this, the retail giant has also unveiled new AI tech for Amazon delivery vans, with plans to…
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