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Internet retailing - you've gotta be in it to win it
Archived article dated Thursday May 1st 2008
Internet-focused retailers have certainly come into focus in recent weeks with results from a number of operators highlighting just how much more buoyant this part of the sector is compared with the high street.
By Glynn Davis
The activity began with a downbeat note from Findel, which shocked the market with an announcement that it had taken a hit on bad debts and been forced into upping its provisions, but there was no escaping the fact that all its online divisions are experiencing strong growth.
Kick-starting the real positive stuff was internet-wonder stock ASOS that yet again delivered uplifts in sales, profits and any other metric you care to measure, in the order of 80 per cent compared with last year.N Brown then came out with a statement that quashed rumours that it had also been hit by Findel-like bad debt issues and highlighted that its growth was increasingly fuelled by the internet with online now accounting for 28 per cent of total business having grown an impressive 50 per cent in the year to March.
The bottom line of all this activity is that there appears to be an increasing polarisation between the City's view of retailers that are increasing their online activities and those that are simply failing to expose themselves to this one bright spot within the industry.
And there is no reason whatsoever for this divergence to do anything other than increase in the future. For now the non-believers may continue to ignore the many wake-up calls that they are receiving but they will ultimately pay the price for this inaction.
Tagged as: glynn davis | online retailing
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