THE RETAIL BULLETIN - The home of retail news
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Health & Beauty
General Merchandise
Sports & Leisure
The Papers
Retail Solutions
Food & Drink
Shop Direct boosted by strong performance at Very

Shop Direct, the owner of and, has seen its full year revenue rise by 1.5% to £1.95 billion following a strong performance at Very.


Shop Direct boosted by strong performance at Very

Shop Direct, the owner of and, has seen its full year revenue rise by 1.5% to £1.95 billion following a strong performance at Very.

In the year to 30 June, operating profit before exceptional items climbed by 9.5% to £224.6 million while EBITDA rose by 11% to £262.3 million. However, the company has reported a statutory pre-tax loss of £24.7 million compared to a pre-tax profit of £24.9 million in the previous year after incurring costs to cover additional customer redress and the establishment of a new fulfilment centre.

Revenue at Very was up 9.9% to £1.4 billion in the period driven by strong customer recruitment, increased app penetration and growth in the retailer’s electrical and seasonal categories

Meanwhile revenue at Littlewoods fell by 14.5% to £569.7 million which Shop Direct attributed to the annualisation of the closure of a commission scheme in the prior year, and a “challenged furniture and homewares performance”.

Henry Birch, Shop Direct’s recently appointed group chief executive, said: “Four months into my role as CEO, I’m hugely excited by the potential of Shop Direct. Today we’re announcing results that show a good underlying performance in a competitive external market.

“Impressive growth in Very and increases in group revenue and EBITDA show the resilience of our business, which is mobile-first, multi-category, and both a retailer and a credit provider.”

The company said orders from its Very smartphone app climbed by 39.5% on the previous year to account for 25.4% of total orders across all devices. On average, app customers were found to visit the site twice as frequently as other customers and the app had a 10% better conversion rate compared with other sales channels.

Looking ahead to the busy Christmas trading period, Birch said the company is trading in line with expectations. He added: “It’s a changing and competitive market but our growth trajectory and differentiated customer offer gives us confidence for the year ahead.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News


Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Conference
The HR Summit 2019
The HR Summit 2019
8 October 2019
Hallam Conference Centre, London W1W 6JJ
The 11th HR Summit 2019, Hallam Conference Centre, 44 Hallam St, Marylebone, London W1W 6JJ
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy