NEWS

Sixth consecutive record-breaking Christmas for Shop Direct

Published on: 16th January 2018

The retailer increased group revenue by 6.3% year-on-year for the seven weeks up to and including 22nd December 2017.

Shop Direct, which operates digital department stores Very.co.uk, Littlewoods.com, and VeryExclusive.co.uk, said the group’s performance was driven by 16.8% year-on-year growth at Very, its largest and fastest growing retail brand.

The increase in mobile sales also continued, with 73% of online sales coming from mobile devices, up from 68% during the same period in 2016.

Additionally, Derek Harding has been appointed interim group chief executive alongside his current role of group finance director. He takes over from current group CEO, Alex Baldock, whose departure was announced in October 2017 and will leave the business at the end of January.

Revenue at Littlewoods was down 12.6% year-on-year, in line with the strategy of profitable, managed decline for the brand. The retailer also reported 102m site visits, up 5% year-on-year, with total mobile sales up 18% year-on-year.

Derek commented: “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. There’s plenty more to come over the next five years, when we’ll focus on delivering the next phase of our ambitious plan to become a world class digital retailer.”

“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,” he added.

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