Shoppers return to previous trends
By Richard Wright | 23rd November 2021
The Very Group - which includes online retailers Very and Littlewoods - is seeing a return to more usual shopping trends.
As shoppers emerge from Covid lockdowns, spending habits have shifted back from home living and working to 'a more typical basket'.
The biggest growth is in fashion and sportswear, with sales increasing by 14.5%.
This was driven by particularly strong performances in ladies' high street brands, as well as men's and women's casualwear.
Home revenue, which benefitted from a shift in customer spending habits for the last financial year, decreased by 16.7%, reflecting the change in customer priorities following lockdown.
Sales in the first quarter of the company's new financial year increased by 3.9% to £484.1m.
The growth was driven by the Very.co.uk brand, where revenue grew 9.6% to £403.8m, benefitting from its combination of famous brands, mobile-first platform, and options to spread the cost of purchases using credit. Revenue for Littlewoods was down 17.7% to £80.3m.
The profit before tax for the period increased to £13.5m, up from £8.6m the same time last year.
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