BREAKING NEWS Woolworths to close major online retailer at a cost of $100million - what you need to know
Woolworths will close online retail marketplace MyDeal at an estimated cost of $100million to improve the supermarket giant's profitability.
The marketplace, which offers a wide range of home and lifestyle products, was founded by entrepreneur Sean Senvirtne in 2011.
It was acquired by the Woolworths Group in September 2022.
Woolworths Group chief executive Amanda Bardwell said the decision to close MyDeal had been made following a strategic review into its profitability.
'MyDeal has brought marketplace expertise and leading technology to the Group's marketplace platform, Woolworths MarketPlus, enabling rapid GMV growth,' she said.
'However, given the intensely competitive environment and the superior economics of marketplaces integrated into retail brands, we have made the decision to close the MyDeal customer website.'
More to come.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mail
33 minutes ago
- Daily Mail
M&S shoppers fury as many of their favourite products including Colin the Caterpillar are STILL unavailable on the website after cyber attack
Shoppers have been furious after they are still unable to buy items like sports bras, jeans and even Colin the Caterpillar. Some items such as Clinique foundation and Wrangler jeans as well some Reebok sports bras and Colin the Caterpillar birthday cake are among the thousands of products yet to be available more than two months after a cyberattack crippled the major retailer's website. Although the retailer has recently brought back a limited selection of third-party brands like Adidas, Columbia, and Lilybod, many ranges are still missing or offering only limited stock. Delivery times for customers in England, Scotland, and Wales have now been cut from ten days to five, but click-and-collect and next-day delivery remain unavailable. Meanwhile, shoppers in Northern Ireland still can't get home delivery at all, according to The Times. The sluggish recovery has left customers questioning the delay. The website was down for 51 days, and although it is now back online, service remains far from normal. Before the cyberattack, the average recovery time following a cyberattack was just 22 days, according to research published last year, making this incident one of the most prolonged online outages in recent retail memory. M&S have said that its full range of products as well as normal delivery times will be returning 'over the coming weeks' did not elaborate on how many of those are back online. A source told the newspaper that it is more than a half. An expert has said 'an abundance of caution' may be behind the delay, with the retail likely to be rebuilding its systems from scratch rather than trying to save its existing software. Professor Alan Woodward of the University of Surrey said: 'They probably did this because the criminals are very good at building malware that can persist and hide in little nooks and crannies on your network.' He suggests that the tech team working with the retail giant is probably going 'the extra mile' as the brand's reputation is on the line. When approached, a source told the newspaper: 'The last thing we want to do is let customers down, promising to fulfil an order in a specific timescale and then not do it.' The retailer continues to insist that its recovery is ahead of schedule, although Prof Woodward said he is surprised at the delay. Since relaunching the site, the retailer's main focus appears to be restocking summer clothing, likely in a bid to clear a backlog of unsold seasonal stock before the sunshine disappears.
Daily Mail
8 hours ago
- Daily Mail
Mystery over alleged teen killer's activities at a café just minutes before he was arrested over the alleged murder of Universal Store CEO - as cops scour the business for clues
Bizarre footage has emerged of a teenager at a local café, shortly after he allegedly stabbed Universal Store CEO Greg Josephson to death during a house party at the millionaire's sprawling Brisbane home. A 15-year-old boy has been charged with one count of murder after Mr Josephson was found critically injured at the gathering attended by 30 teenagers on Thursday. Officers arrived at the six-bedroom 1930s Art Deco mansion in Clayfield, in Brisbane 's inner north, just after 8.15pm and found the CEO unresponsive upstairs. Police allege an altercation took place between the teenager and the father-of-three, who are believed to be known to each other. A household item was used in the alleged attack. Winter holidays run from June 28 to July 13 in Queensland, with private schools usually breaking up a few days earlier. CCTV footage from a café near Mr Josephson's mansion showed the alleged killer walking across a patio area while wringing his hands. The teen is understood to have sustained a hand injury in the alleged attack, the Courier Mail reports. He appeared smartly dressed in a button-up shirt and pants as he proceeded to squeeze his way into a narrow rubbish area at the back of the venue. He then appeared to create a barricade by moving several bins in front of him. Police arrested the 15-year-old about 8.15pm after he called triple zero. He was refused police bail and has been taken to hospital. The café has since remained a place of interest, with officers and a dog squad reportedly seen searching the area on Friday afternoon. For almost two decades, Mr Josephson was the director of the Brisbane-based Universal Store, which he established with his brother Michael in 1999. From one store in Carindale, the company has grown to 80 outlets in every state and territory of Australia, as a leader in youth and streetwear fashion with an annual revenue of more than $288million. The Josephson brothers sold the business for $100million in September 2018 to private equity investors Five V Capital, Catalyst Direct Capital Management and BBRC Worldwide, which had previously invested in Bras N Things. Universal Store Holdings was listed on the Australian Securities Exchange in November 2020 and the brand has continued to grow since the Josephson brothers relinquished control almost seven years ago. Mr Josephson and his wife Tamra bought the Clayfield home for $1.91million in 2016. The couple embarked on a major renovation, with Mr Josephson explaining at the time how they had planned to 'create a huge garage with a tennis court above it'. 'We were looking for a big family home and this was in very original condition,' he told the Courier Mail earlier this month. The sprawling Oriel Road property had been on the market for just 43 days when Mr Josephson was allegedly murdered.
Daily Mail
9 hours ago
- Daily Mail
Aussie builder reveals the top five ways to cut your power bill before prices surge again
A builder has revealed his top five tips for lowering household power bills ahead of the market electricity price increasing by up to 9.7 per cent from July 1. According to tradies, Aussies aren't just bracing for the spike - they're taking action - with a recent surge in energy-saving home improvement jobs. Glass and glazing installations have gone up 68 per cent in 2025, and insulation jobs are up 34 per cent, hipages data reveals. Double glazing Fouad Reaiche, the managing director at ETH Construction Group, told Daily Mail Australia that people would be surprised by the effectiveness of glazing. 'Thermal blocking blinds and double glazing should be added if you have that opportunity,' he said. 'If you're going to spend the money, get double or even triple glazing. It's definitely something that you want to be doing. 'It makes all the difference in the world and people don't actually realise it until they've done it to their house.' Double glazing creates a layer of insulation, slowing down heat transfer between the inside and outside of a home. It means less heat is lost in winter and less heat enters a building in summer, leading to lower energy bills. 'It makes a big change for both summer and winter. It keeps the cold out in winter and the heat in,' Mr Reaiche said. 'It deflects heat on the outside in summer, so it works all year round. 'A lot of people who just did standard glazing were pushed out of the market.' Double-glazed window costs in Australia typically range from $300 to $1,500 per square metre. According to Bradnam's Windows and Doors, Aussies could save up to 20 per cent more on their energy bills if they were to utilise double-glazed over single-glazed products. Draft blockers Mr Reaiche said another simple way to reduce a power bill is to ensure cool or warm air isn't seeping into a house. 'One thing that we see people buying a lot is draft blockers for all their entry doors to stop drafts coming through,' he said. 'It's a big energy saver.' Newer air conditioners Air conditioning consumes 15 per cent of Australia's total generated power, and more than half the energy used in homes is the result of heating and cooling devices. That's why many Aussies are also looking to upgrade their air conditioning units. 'Putting energy efficient heating and cooling in is another thing to consider. People are ditching their old A/C units and upgrading to ones that are more energy-efficient,' Mr Reaiche said. Installing the correct insulation Home insulation is crucial for maintaining a comfortable indoor temperature and reducing energy consumption. Roof and ceiling insulation can save up to 45 per cent on energy consumption for heating and cooling, according to the Department of the Environment, Water, Heritage and the Arts. 'Insulation is a big one as well,' Mr Reaiche said. 'If you're building a new home, you need to put in the right insulation based on the climate that you're in.' Mr Reaiche's final piece of advice was to simply shop around and not become complacent by showing loyalty to a power company. 'Switching energy providers is one of the most efficient ways to reduce your energy bill by getting a better deal,' he said. 'People don't think to find a new provider. They're just happy to sign up and stay with them.'
