Merely a day after comments were made about the possibility of a UK office closure as part of Zulily’s assurance to investors prior to the release of its 2014 results, it has been confirmed that the business will indeed close its London offices and look to fulfil orders for UK customers from its US facility. The five year old online business, headquartered in Seattle, posted net annual sales of US $1.2 billion for 2014. With 4.9 million active customers and an average order value of US $58.09, the business achieved full year net income of US $14.9 million, considerably less than expected and this has caused its share price to plummet. No figures were attributed in its reports for UK, European or Australian market sales.
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