Very boosts Christmas sales at Shop Direct

Shop Direct, which operates digital department stores Very.co.uk, Littlewoods.com and VeryExclusive.co.uk, said that the company increased group revenue by 6.3 percent year-on-year for the seven weeks up to and including December 22, 2017. The company added that the group’s performance was driven by 16.8 percent year-on-year growth at Very, its largest and fastest growing retail brand. Additionally, the company also announced that Derek Harding has been appointed interim group chief executive alongside his current role of group finance director replacing current group CEO, Alex Baldock, whose departure was announced in October 2017.

Commenting on the company’s performance, outgoing CEO Alex Baldock said in a media release: “This was another record-breaking Christmas for Shop Direct, on the heels of 9 percent growth last year and 6 percent in 2015. Once again, Very was the star of the show, with sales outpacing the UK online retail market. Our early focus on mobile continues to pay off, as it heads towards three quarters of our sales. It’s been a privilege to lead this team and I’m immensely proud of what we’ve achieved together; turning a dusty old catalogue retailer into a growing, profitable and innovative etailer. Derek is an outstanding leader, and as I hand him the reins I know that Shop Direct will continue to thrive.”

Highlights of Shop Direct’s Christmas trading

The increase in mobile sales continued with the channel reporting 18 percent growth, with 73 percent of online sales coming from mobile devices, up from 68 percent during the same period in 2016. Revenue at Very increased 16.8 percent year-on-year, while revenue at Littlewoods declined 12.6 percent.

The company also witnessed another record-breaking Black Friday, with retail sales up 10.9 percent year-on-year across the promotional period.

“Shop Direct has achieved one of retail’s most successful transformations over the last five years, thanks to the commitment of our people, the support of our shareholders and Alex’s leadership. Looking ahead to 2018, the market remains tough and highly promotional. We’ll keep trading hard and investing in what makes us special to deliver another positive year,” added Harding.

Picture:Facebook/Very UK