Online news

Fresh from its first ever quarterly profit in Q3 2022, South Korean ecommerce giant Coupang achieved an unprecedented second consecutive quarterly profit in Q4 2022. Focus on efficiency and superior offerings As we had reported after Coupang’s first ever quarterly profit in Q3 2022, its success can be attributed to its efficiency drive and ability to stand out from competitors through its...

The figures, announced last week as part of the John Lewis Partnership’s annual results, show Waitrose’s sales were down 3% in 2022 to £7.31 bn. Sales decline coming from online, as instore performance remained flat Waitrose stated all sales declines came from the online channel, with store sales remaining flat year on year. Online accounted for 14% of sales in 2022, down from 17% in 2021. ...

We look at how Kroger is planning to rollout a fleet of driverless trucks in partnership with autonomous middle mile logistics supplier Gatik. Transport of customer orders Kroger and Gatik have announced a multi-year partnership to transport customers orders within Kroger’s distribution network in Dallas, Texas. Gatik’s autonomous box trucks will be used to transport products from a Kroger ...

Earlier this month, Walmart's CFO John Rainey spoke at the Raymond James Institutional Investors Conference in Orlando, sharing insights into the retailer's future. We explore some of the key points from the interview. Plans to continue growing its marketplace Walmart will continue to add more third-party sellers to its marketplace, therefore broadening its online offer. It currently has ov...

JD.com reported its revenue increased by 9.9% to CNY1.05 tr (US$151.7 bn), and its operating income rose by 104.2% to CNY29.0 bn (US$4.2bn) in its full year 2022 results. In Q4 2022, JD.com’s revenue grew 7.1% to CNY295.4 bn (US$42.8 bn), while its operating income reached CNY4.8 bn (US$700m), compared to a loss of CNY400m (US$58.0m) in 2021. Performance of JD.com’s four key segments J...

Tesco is set to introduce Amazon style ‘fulfilment fees’ for suppliers to its online stores. Fees to apply to both online and wholesale The fees, revealed by The Grocer, are set to be in place from as early as this week with the retailer rumoured to be charging 12p per unit for branded products and 5p per unit for own label items. The fees will apply to both online and wholesale. Separately...

Ocado have announced a partnership with marketing firm The Trade Desk allowing the marketer direct access to customer behaviour data. Ocado is the first grocer in the UK to take this approach and have clarified that all data supplied is consented. Ocado suppliers and The Trade Desk’s clients will be able to utilise their first-party audiences to target in-market shoppers and drive key marketin...

Alibaba Group reported its Q3 revenue, for the three months ending 31 December 2022, rose 2% to RMB247,756m (US$35,921m), and net income of RMB35,031m (US$5,079m), which is up 12%. Seven key segments performance highlights China commerce sales reduced 1% to RMB169,986m (US$24,646m) International commerce sales grew 18% RMB19,465m (US$2,822m) Local consumer services sales rose 6% ...

The online supermarket reported a 3.8% drop in its retail revenue, down to £2.2bn for the 2022 financial year. Ocado reported a £501m loss before tax, £324m lower than in FY21. This is despite increasing its market share and growing its customer base over the financial year. Ocado Group chief executive Tim Steiner said: “Over the last year every company has had its business model tested b...

We look at Target’s latest results and its strategic update which included details of how it plans to sustain growth, rebuild profitability and strengthen the business. Key numbers Q4 total revenue up 1.3% to $31.4 bn, driven by sales growth of 1.2% and an 8.4% increase in other revenue Fourth quarter comparable sales increased 0.7%, reflecting comparable stores sales growth of 1.9% and...