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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Mar- 2023 -21 March
Amazon to axe a further 9,000 jobs
Amazon has plans to cut a further 9,000 jobs in the areas of cloud computing and advertising as a way to cut its expenses. The news came in the form of an announcement by CEO Andy Jassy that was shared with the e-retailer’s employees yesterday (20 March). However, Jassy did…
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14 March
Virgin Wines launches business review as profits plummet
Virgin Wines has launched a full review of the business after profits tumbled to £0.1m in its half-year results, down from £3.2m the prior year, as the business was hit by challenges “particularly” over the peak Christmas trading period. In the six months ended 31 December 2022, total revenues were…
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7 March
In The Style offloads business for £1.2m to avoid administration
Online fashion retailer In The Style has agreed to sell the business for just £1.2m as a way to avoid administration. In The Style Fashion Limited, which was valued at £105m in 2021, will be acquired by private equity investor Baaj Capital. Founder and CEO Adam Frisby will take a…
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3 March
Onbuy ranked as Europe’s fastest growing e-commerce business
Online marketplace OnBuy.com has been ranked as Europe’s fastest-growing e-commerce business according to the FT 1000. The annual list from the Financial Times reports the latest annual ranking of businesses by revenue growth across Europe. UK-based OnBuy placed 25th on the list – after achieving 3402% growth since 2018. The…
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Feb- 2023 -28 February
Amazon workers to strike for second time
Workers at an Amazon warehouse in Coventry have begun a second day of industrial action in a dispute over pay and conditions. The action comes after workers were offered a 50p per hour pay increase, something they believe is not enough. The GMB union is calling for a pay rise…
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22 February
Zalando to cut hundreds of jobs amid challenging environment
European online fashion retailer Zalando has revealed it is set to cut hundreds of jobs as part of cost-saving measures amid what it called a “challenging” macroeconomic environment. In a letter to staff, Zalando co-CEOs David Schneider and Robert Gentz revealed they have decided to start a program that will…
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20 February
Amazon to ask workers to return to office
Amazon has announced that it will be asking its staff to return to the office for at least three days per week, effective 1 May. In a letter to staff, CEO Andy Jassy said the decision was made at a s-team meeting last week. He said that “for a number…
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16 February
Secret Sales welcomes 70% growth in FY22
Secret Sales has welcomed “exceptional growth” in 2022, reporting 70% like-for-like growth that “far exceeds the industry norm”. According to the business, it is set to maintain its momentum with an “unprecedented” 85% growth in 2023, and has already reported 80% like-for-like growth in January sales alone. The non-full price…
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14 February
Online sales growth slows to pre-pandemic levels
Online sales have slowed down to pre-pandemic levels, according to new analysis from the IMRG’s online retail index. The analysis attributed this to lockdowns, during which huge volumes of orders were made online. In 2019, growth for the total online market was up 5% year-on-year, while in 2020 it increased…
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6 February
Amazon to sublet UK warehouses as growth slows
Amazon is reportedly planning to sublet its empty warehouses across the UK, as it has continued to halt growth plans after its full-year profits halved to $12.2bn (£9.9bn) in FY22. According to the Telegraph, Amazon has started subletting unused warehouse space across the country, despite estimations it opened hundreds of…
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