THE RETAIL BULLETIN - The home of retail news
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
THE Retail Conference 2022
Retail Women In Leadership 2022
Digital Transformation Strategy 2022 Part 2
Omni Channel Futures 2023
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Deliveroo announces widening losses as Simon Wolfson steps down from board

Deliveroo has said Next chief executive Simon Wolfson has decided to step down from its board as it announced that its losses had widened in the… View Article

GENERAL MERCHANDISE

Deliveroo announces widening losses as Simon Wolfson steps down from board

Deliveroo has said Next chief executive Simon Wolfson has decided to step down from its board as it announced that its losses had widened in the first half of its financial year.     

Wolfson joined the board as a non-executive director in January 2021, a few months after Claudia Arney was appointed as its first independent chair. He has been chief executive of Next since 2001.

In a statement, Wolfson said: “After much consideration, and with regret, I believe that the time required to continue in my role at Deliveroo is no longer compatible with my executive and other commitments. I have enjoyed my time working with Will, the executive team and my board colleagues over the past 18 months and wish the company all the best for the future.”

Arney added: “Simon has played a key role in supporting the company in its first year as a public company. His experience, advice and guidance have helped to navigate an unprecedented trading environment and to build solid foundations to capitalise on the opportunities ahead of us.”

Today Deliveroo said that it is planning to cease operations in the Netherlands after it failed to gain a strong local position in the country. It also announced that its first half pre-tax losses widened to £147 million from £95 million in the same period in the prior year. Meanwhile revenue increased by 12% to £1 billion in the half year due to growth in commission revenue and consumer fees, and a bigger contribution from advertising,

Will Shu, founder and chief executive of Deliveroo, said: “So far in 2022, we have made good progress delivering on our profitability plan, despite increased consumer headwinds and slowing growth during the period. We are confident that in H2 2022 and beyond we will see further gains from actions already taken, as well as benefits from new initiatives.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

THE NEXT EVENT

See all upcoming events

LATEST VIDEO

UKG LifeWork ALL: Register your place now to hear more. RETAIL HR 21 Sept LONDON
UKG LifeWork ALL: Register your place now to hear more. RETAIL HR 21 Sept LONDON

Watch video >