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- 2021 -25 January
Boohoo acquires Debenhams intellectual property for £55m
Boohoo has announced it has acquired all of the intellectual property assets of Debenhams in a £55m deal. The online fashion retailer expressed its intent to rebuild and relaunch the Debenhams platform, which in result will help further the group’s stated ambition to lead the fashion eCommerce market, and grow…
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25 January
Feelunique sales soar in golden quarter
Online beauty retailer Feelunique has welcomed a period of “strong” trading during its golden quarter, with sales soaring by 39% to £28m in the 12 weeks ended 3 January 2021. This growth was attributed to ongoing investments in its e-commerce platform, alongside “soaring” marketplace demand, with active customers up by…
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21 January
Eve Sleep exceeds expectations in 2020
Eve Sleep has announced that full-year trading has exceeded expectations, with total revenue up by 6% to £25.5m, boosted by 18% growth in its second half of trading. It comes as the retailer said it has “exited 2020 in far better shape than it entered the year”, having developed a…
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20 January
Dixons Carphone sees 121% online growth over Christmas
Dixons Carphone welcomed a 121% rise in its like-for-like online revenue during the peak Christmas season, attributed to a higher demand in e-commerce amid the pandemic. The company’s trading update for the 10 weeks ended 9 January 2021 revealed that Electricals like-for-like revenue increased by 11% for the period. The…
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20 January
Moonpig confirms £1.2bn stock market float
Moonpig, the internet greetings cards and gifts retailer, has confirmed plans for a £1.2bn float on the London stock exchange. Exponent, the private equity firm that bought Moonpig in 2016, is set to flat in excess of 25% of the company, while fund manager Blackrock and tech investor Dragoneer Global…
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18 January
Barclay family mulls £3bn Very Group float
The Barclay family is reportedly eyeing up a £3bn float of online retailer Very Group, according to reports from Sky News. The billionaire family, who owns the business, is said to be in the early stages of exploring plans for the flotation in a bid to “capitalise on exploding investor…
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15 January
N Brown sales continue to recover in Q3
N Brown has seen group revenue continue to improve in FY21. Though revenue was down by 8.8% in its third quarter, this marked an improvement from the 13.4% fall in Q2 and 21.9% decline in Q1, when the pandemic first hit. According to the retailer, customer trends in its latest…
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13 January
Asos sees UK sales soar by 36%
Asos has revealed that revenue growth for the four months ending in 2020 has ”surpassed expectations”, with the store now expecting profits to be at the top of its forecasts for the financial year to August. In a post-Christmas trading update, the online fashion retailer reported that group sales were…
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12 January
The Hut Group revenue soars ahead of guidance in Q4
The Hut Group has announced that revenue soared by 51% to £558.7m in the three months ended 31 December 2020, outperforming a previous guidance of 40% to 45% growth. Revenue guidance was initially estimated to be 16% to 25%, but was raised last month following a “strong” peak trading performance…
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12 January
Very records best ever Christmas sales
Very.co.uk has announced a 25.2% year-on-year increase in retail sales in the seven weeks up to and including 25 December 2020, marking the best recorded sales over a Christmas period to date. The increase in sales was predominantly due to Covid-19 pushing retail online, as government lockdown restrictions continued to…
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