Month: June 2016

Carpetright UK profits up 33.1% but warns on Brexit effect

Despite reporting an increase in profit, shares in Carpetright fell 16 per cent after the retailer warned Brexit could hit consumer confidence and exacerbate the already ‘more challenging’ trading conditions at the start of the year.

Debenhams sales slow as mobile dominates

Debenhams released its latest trading updates with news of slow growth overall but an increase in ecommerce. Over 50 per cent of its online orders come from mobile devices, with online sales up by 7 per cent, up from under 50 per cent at its half year report.

Delivery volume growth at highest rate so far in 2016

Online retail delivery volumes were up 25.2 per cent year-on-year in May (10.4 per cent on April) according to the IMRG MetaPack UK Delivery Index, the strongest growth recorded so far this year by some distance.

Twitter buys Magic Pony for $150m

Twitter is continuing its investment in AI technology, with news that it has purchased Magic Pony Technology for a reported $150 million.

Idle Man closes £1.4m in funding

Menswear etailer The Idle Man has secured a further £1.4 million in funding and plans to use the money to accelerate its growth.

Ecommerce grew in May: IMRG

According to the IMRG Capgemini eRetail Sales Index, ecommerce grew by 17 per cent in May, compared to the same time last year. That’s the highest rise seen in the index since June 2015, and came as average basket values rose to £81 in the year-to-date from £78 in the equivalent period last year.