Overall revenues for Shop Direct were up by 2.4 per cent on a 52 week basis to reach £1.83 billion for the 53 weeks to the end of June 2016. Shop Direct which comprises Very and Littlewoods also increased its profits by 20 per cent for the 52 week period. The business abandoned its Littlewoods print catalogue in January 2015 in favour of adopting a wholly digital approach. Sales for its very.co.uk site exceeded £1 billion in the year representing a 13.9 per cent rise.
CEO Alex Baldock commented “Removing the shackles of the catalogue has been liberating, and has allowed us to invest in the areas of the business that matter most to our customers – making their shopping experience easier and more personalised, particularly on mobile.”
Shop Direct is now focused on developing its own brand fashion label V by Very which it expects to achieve £170 million sales during its launch year.
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