RTIH looks back at the retail technology space in April
RTIH takes a look back at an eventful month for the retail systems space, including big announcements by Amazon, Tesco, Overstock, Asos and Walmart.
Good month for…
Overstock announced its Q1 2021 earnings, with total net revenue hitting $660 million, an increase of 94% year-over-year.
Misfits Market, a US-based e-commerce platform specialising in the delivery of food that would otherwise be wasted, completed a $200 million Series C funding round.
This brought the company's total funding to $301.5 million. It is now valued at $1.1 billion.
Deliverect, a Belgian startup that connects the likes of Uber Eats, Deliveroo, Doordash, and Just Eat Takeaway.com to restaurants’ PoS systems, raised $65 million in a Series C funding round.
Tesco reached a record £0.5 billion in gift card sales during the financial year ending 28th February 2021.
The 65% year-on-year increase was achieved through a combination of in-store and digital sales.
Amazon's profit in the first three months of 2021 weighed in at £5.8 billion - more than triple what it was in the same period last year.
Tesco issued its 2020/21 preliminary results, with the grocery giant notching up £825 million in pre-tax profits, down from £1,028 million in the previous year.
Asos reported that adjusted profit before tax hit £112.9 million in the six months ended 28th February, a £82.8 million increase on the previous half year.
As coronavirus lockdowns continued to see the closure of non-essential retailers and in turn boost the online shopping space, revenue was up 25% to £1.98 billion.
The fast fashion pureplay also added an extra 1.5 million new active customers, taking its total base to 24.9 million.
XPO Logistics snagged a contract to manage a new fulfilment centre in Lichfield Staffordshire for Asos.
The 437,000 square foot DC at Fradley Park is expected to commence operations in August, creating about 2,000 new jobs over the next three years.
Computer vision startup, Trax, secured $640 million in a Series E financing round led by SoftBank Vision Fund 21 and BlackRock.
The round, the biggest in Trax’s history, also included new investors such as Canadian pension fund Ontario Municipal Employees Retirement System and VC firm Sony Innovation Fund.
German e-commerce venture Berlin Brands Group raised $240 million in debt financing to fund acquisitions of companies selling on Amazon.
Unicredit, Deutsche Bank and Commerzbank were part of the banking consortium that extended the loan.
E-commerce fraud protection specialist, Signifyd, announced a $205 million Series E funding round led by Owl Rock Capital.
The investment valued the company at $1.34 billion as it looked to expand its Commerce Protection Platform and identity growth globally, across digital shopping and payments.
Bad month for…
Amazon apologised for a tweet it sent to a US congressman denying that its delivery drivers urinate in bottles due to pressure to meet quotas.
Sainsbury's slumped to a £261 million loss in the year to 6th March despite strong food and Argos sales during the coronavirus pandemic.
The grocery giant said it had spent £485 million on Covid-related costs. It also paid back business rates relief on its stores.
Also this month…
Amazon’s Key by Amazon In-Garage Grocery Delivery service is expanding to everywhere grocery delivery from the e-commerce giant is available, covering more than 5,000 US cities and towns.
Originally launched in five cities last November, the offering enables Prime members to have their Amazon Fresh and Whole Foods Market groceries dropped off inside their garage.
Waitrose is expanding its Deliveroo service to 110 new stores with up to 400 new roles created by the roll-out.
That will take the number of its locations on Deliveroo to 150 in total by the end of the summer.
Not to be outdone by Amazon and Walmart, The Kroger Co. teamed with Drone Express, part of TELEGRID Technologies, for a pilot involving grocery delivery via autonomous drones.
Currys PC World launched its first ever branded hashtag challenge in partnership with social video app TikTok.
Titled #TechTokTip, this encouraged TikTokers to reveal their top usage tips for common at home appliances and devices, to be in with the chance of winning a £5,000 tech bundle.
Woolworths Group announced plans for its first automated customer fulfilment centre (CFC) in Auburn, New South Wales as it looked to better serve the online grocery needs of Western Sydney customers.
If approved by the NSW Government, the retailer will build the facility in partnership with Knapp, whose automation technology will help personal shoppers pick and dispatch up to 50,000 deliveries a week.
Amazon opened an Amazon Fresh location in White City, London.
This was the third such convenience store to feature Just Walk Out Shopping tech in the UK, which was pioneered at the Amazon Go offering in the States.
Walmart backed all electric autonomous vehicles venture Cruise.
It joined a previously announced funding round, bringing the total haul to $2.75 billion.
The retailer said that this would aid its work toward developing a last mile delivery ecosystem that’s fast, low cost and scalable.
Ocado Group invested £10 million in Oxbotica, as part of the autonomous vehicle software venture’s Series B funding round.
Danish furniture and home furnishings retailer JYSK launched a store manager recruitment campaign as it looked to hit 5,000 stores worldwide.
Amazon and Global Optimism reported that more than 100 companies had signed The Climate Pledge.
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