The Very Group has reported good levels of trading for the seven weeks to Christmas Eve. It says that revenue rose by 11.5 per cent on a two-year basis, but was 3.3 per cent down on the same period last year. Very sales, in particular, were up by 21.9 per cent as compared with two years ago with significant growth in demand for electricals, home, fashion and sports categories.
CEO Henry Birch commented: “Thanks for the hard work and commitment of our people, we’ve delivered another amazing Christmas for our customers and strong trading results for the period. Very recorded outstanding double-digit growth compared with the pre-pandemic festive season in 2019, as our customers enjoyed a more normal Christmas. They bought back into fashion, focused on wellness, got their hands on the latest consoles and doubled-down on Christmas decorations to make up for last year’s more muted celebrations. Our performance was supported by our strong supplier and delivery partner relationships and our highly-automated fulfilment centre Skygate.”
The business has also confirmed the appointment of Dirk Van den Burghe, as a non-executive director.
“Whilst the next 12 months will no doubt bring challenges as we all continue to navigate life around Covid-19, the last two years have shown that our model, which combines multi-category digital retail with our Very Pay platform, is both highly resilient and highly relevant. We’re going into the new year with great momentum and are well-set to keep building on our success.”
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