Today’s news in brief-8/8/24

Deliveroo has reported a return to profit in the first half of the year, with earnings reaching £1.3m, a significant turnaround from a loss of £82.9m in the previous year. This success was driven by enhanced consumer retention and expanding partnerships with retailers. Key metrics include a 6% increase in Gross Transaction Value (GTV) to £3.7bn and a 2% growth in revenues to £1.03bn. The company highlighted strong performance in grocery delivery, which now constitutes 14% of its total GTV.

Asos has signed a new three-year deal with Microsoft to bolster its operations through advanced AI technologies. This collaboration builds on their existing relationship, leveraging AI tools like Microsoft Copilot and Azure for enhanced decision-making and operational efficiency. Asos continues to innovate with AI-driven solutions, including an AI stylist powered by Azure OpenAI, aimed at delivering personalised shopping experiences.

Co-op has extended its longstanding partnership with Wincanton, securing a new five-year contract for logistics and distribution services. Wincanton will manage Co-op’s regional distribution centre in Wellingborough, facilitating the delivery of over 750,000 cases weekly to nearly 350 stores across the Midlands, South East, and East of England. This extension underscores the alignment between the companies on values of safety, social value, and sustainability.

Hunter Price International has acquired BargainMax.co.uk, an online toy retailer, as part of its strategy to expand its consumer product offerings. This acquisition follows Hunter Price’s successful trading year in 2023 and reinforces its commitment to customer-centric retail solutions across multiple categories, including toys, accessories, and lifestyle products.

Go Outdoors is set to open Europe’s largest outdoor store at the Vangarde Shopping Centre in York. Spanning 125,000 square feet, the store will feature over 380 brands and 30 branded concession areas, including flagship stores for Yeti and Garmin, and the UK’s first Adidas Terrex in-store concession. The store aims to create a community hub with amenities like the Alpine Café, offering locally sourced meals.