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- 2024 -26 July
Boohoo launches new marketplace Boohoo Brands
Boohoo has announced the launch of its new marketplace, Boohoo Brands, as it aims to become “a one-stop destination for all fashion, beauty, and lifestyle needs”. The brand has already onboarded 200 labels, including accessories from Alexander McQueen, Balenciaga, Gucci and Valentino, clothing from Off White and Urban Bliss, footwear…
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26 July
Apollo acquires Evri from Advent International
Private equity firm Apollo Global Management entered into a definitive agreement yesterday (25 July) with Advent International to acquire parcel delivery company, Evri, for an undisclosed amount. Since relaunching as Evri in 2022, the company has strengthened its national network that has been purpose-built for third-party ecommerce parcels and its…
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25 July
Virgin Wines EBITDA hits £2.8m
Online wine retailer Virgin Wines UK has reported a 260% increase in EBITDA to £2.8m, with its profit-before-tax also expected to be £1.95, up from a loss of £430k, for the year ended 30 June 2024. Meanwhile, its revenue was in line with the prior year at £59m (FY23: £59m).…
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16 July
Ocado HY losses narrow to £154m
Ocado has revealed that its losses narrowed to £154m for the half year ended 2 June 2024, down from £290m in the same period last year. Overall, the company’s group revenue rose 12.6% to £1.5bn while its technology solutions arms saw an increase of 22%, its logistics arm saw a…
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9 July
Naked Wines CFO to step down after securing new credit facility
Naked Wines has announced that CFO James Crawford will be stepping down in the autumn, following the finalisation of the group’s new credit facility. According to the wine retailer, this timing is consistent with the two-to-three-year incentive arrangement agreed with Crawford when he rejoined the board as CFO in 2022,…
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9 July
Over 3,000 Amazon staff to vote over union recognition
Workers at Amazon’s Coventry warehouse are set to vote in a “historic” trade union recognition ballot which will force Amazon to recognise a union for the first time in the UK. More than 3,000 workers will take part in the ballot – if a majority of them vote yes, Amazon…
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4 July
Bezos to sell over $4bn of Amazon shares
Amazon founder Jeff Bezos is planning to sell more than $4bn (£3.2bn) of his shares in the company, as the stock hit a new record of $200.43 (£157.13) on Tuesday (2 July 2024). The news also comes after it was revealed that Bezos would sell another 25 million shares, raising…
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1 July
Ann Summers to unveil lingerie-specific online marketplace
Ann Summers has announced that it will be unveiling an online marketplace – Knickerbox.com – on 16 July, founder Jacqueline Gold’s birthday. This move by the lingerie retailer will be “the only underwear specific site in the UK”. According to Ann Summers, Knickerbox.com is the solution to its online business…
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Jun- 2024 -28 June
Music Magpie revenues fall amidst competitive second-hand market
Music Magpie has reported a decline in group revenues from £61.9m to £53.8m for the six months ended 31 May 2024, as it struggled in the highly-competitive second-hand market. The group attributed the reduction to the planned conversion of its US business into a sourcing-only operation, which also saw its…
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27 June
Moonpig sees FY sales and profits rise amid tech investments
Moonpig has seen both sales and profits rise in its full-year results, which the group has attributed to “extraordinary” customer loyalty brought on by its investments in technology.In the year ended 30 April 2024, revenues rose by 6.6% to £341.1m, up from £320.1m the prior year, while adjusted profit-before-tax rose…
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