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.
-
Oct- 2024 -10 October
Asos completes Topshop sale
Online fashion retailer Asos has completed the sale of Topshop and Topman brands to a joint venture led by Heartland for an undisclosed sum. The news comes after Asos announced its plans to offload the brands on 5 September 2024, amid a refinancing of the business. Following the sale, Heartland,…
Read More » -
8 October
Very Group owners to appoint banks ahead of potential £2.5bn sale
The owners of the Very Group, the Barclay family, have reportedly appointed banks as they eye a £2.5bn sale of the group, according to reports from Sky News. The board, now chaired by former chancellor Nadhim Zahawi, is lining up Barclays, JP Morgan and Morgan Stanley to handle a strategic…
Read More » -
4 October
Watches of Switzerland acquires Hodinkee
The Watches of Switzerland Group has announced the acquisition of Hodinkee, a US digital content provider for watch enthusiasts. With a history of stewarding brands, the Watches of Switzerland Group aims to utilise its leadership role in the industry to further Hodinkee’s mission in sharing “engaging, educational and entertaining” watch…
Read More » -
Sep- 2024 -19 September
Ocado ups FY guidance as Q3 sales rise 15%
Ocado has hiked its full-year guidance after a period of strong growth and trading in Q3, boosted by a rise in customers and its online grocery business. The group now expects full-year revenue growth to be in the low double digits, up from its previous guidance of mid-high single digits. It…
Read More » -
18 September
Moonpig to meet full-year guidance despite market challenges
Moonpig has revealed that it expects to hit its guidance for FY25 despite the ongoing “challenging environment” and consumers pulling back on larger gifting items. In a trading update, it said it expects revenue growth to be at a mid-to-high single digit percentage rate, underpinned by growth in orders within…
Read More » -
17 September
THG looks to demerge Ingenuity arm
THG has announced that it is “actively undertaking” work that could lead to the demerger of its technology arm, THG Ingenuity. Whilst structuring tax clearances have now been approved by HMRC, the group said there was no certainty of a timescale for the demerger that it could provide at this point.…
Read More » -
12 September
Trinny London opens first-ever flagship store
Online beauty brand Trinny London has opened its first-ever flagship store on King’s Road. The new store features designated breakout areas, interactive product-play spaces, displays of skincare routine inspiration for beginners and aficionados alike, and a space to build a personalised line-up based on your skin goals. Customers can shop…
Read More » -
9 September
Asos rejected £215m Shein Topshop bid for lower offer
Asos reportedly declined a £215m bid for Topshop from Shein and Authentic Brands Group, in favour of its joint venture with Heartland, according to The Sunday Times. The retailer agreed to sell a 75% stake in Topshop and Topman for £135m in a deal that valued the two brands at…
Read More » -
Aug- 2024 -29 August
Ocado Retail to slash prices on over 450 products
Ocado Retail has announced that it is slashing prices under its Big Price Drop scheme. Posting on LinkedIn, the group said: “From today, 450 more products on site will be reduced in price, decreasing by an average of 17%. It’s one of the many ways we’re continuing to offer reassuringly…
Read More » -
28 August
Temu owner PDD sees shares plummet 29% despite strong Q2 results
Temu owner PDD holdings saw its shares plummet 29%, wiping out $55bn (£41.6bn) off the company’s market value, after its Q2 results fell short of analysts expectations. This comes despite a 86% increase in revenues to $13.35m (£10.09m) and a 156% rise in operating profit to $4.48m (£3.39m) in Q2…
Read More »
