A roundup of the latest news and industry insight that got SoundOut HQ talking
Boohoo to surpass forecasts after 44% jump in quarterly revenues
Despite the worst year on record for British retailers, Boohoo is on track to surpass profit and revenue forecasts for the year after it posted another set of impressive results in its latest trading update.
For the four month period ending December 31, which includes the peak Christmas trading period, overall sales at the online fashion retail group soared by 44 per cent year-on-year to £473.7 million.
Is M&S’ new Goodmove athleisure range a good move?
Embattled retailer Marks & Spencer has moved into the athleisure market by recently launching its 150-piece Goodmove range. But is it enough to revive its ailing clothing sales?
In recent years, M&S’s clothing sales have been on a slippery slope. So its new athleisure range raises the question: has it dipped into market to revive its clothing sales; or to widen its offering?
H&M launches “smart” recycling bins to collect shoppers old clothes
H&M is set to install “smart” recycling bins across its stores in a bid to encourage more shoppers to use its Garment Collecting initiative and donate their old clothes.
The fast fashion retailer has installed two automated smart bins at its flagship store in New York City, featuring an integrated scale and digital screen.
As shoppers place their bag into the bin, their donation will be weighed, and a real time tally of the donation will be presented on-screen alongside a QR code.
This code can then be scanned by shoppers to receive a 15 per cent discount to spend with H&M in-store or online, as well as guiding shoppers to information about its other sustainability initiatives
Lidl expected to launch UK online shop this year
Lidl could soon launch an online delivery service in the UK initially delivering wine, spirits and non-food items to shoppers across the country.
The German discounter is understood to be exploring a partnership with logistics giant iForce, which is thought to already handle some of the retailer’s inventory services, according to The Grocer.
IForce, part of the Eddie Stobart group, already handles logistics for Tesco, John Lewis and Waitrose in the UK, suggesting Lidl is likely to be seeking similar services.
Asos launches ‘See My Fit’ AR app displaying products on 16 different virtual models
Asos has launched a new augmented reality (AR) app allowing users to see what items look like in different sizes and on different body types.
‘See My Fit’ is being trialled by the online fashion giant with 800 dresses across its desktop and mobile platforms.
Developed in partnership with Isreali AR company Zeekit, the tool will allow shoppers to click on the See My Fit button to view the product on a range of 16 virtual models in sizes four to 18.
John Lewis becomes first major retailer launch male-only makeup concession with War Paint
John Lewis has become the first major retailer to launch a makeup counter just for men which has reportedly seen “amazing sales”.
War Paint For Men, a British makeup brand which rose to fame after appearing on Dragons Den, is the first all-male makeup brand to win a concession at the department store.
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