Very Group sales smash £480m thanks to fashionwear

Very Group
Very Group said it saw a return to “a more typical basket” from its customers
// Very Group sales rise in first quarter of the year
// Sales were driven by the fashion category

Very Group has reported an increase in sales and profitability in the first quarter of the year after a strong performance in the fashion category.

The parent company of online retailers Very and Littlewoods said group sales increased by 3.9 per cent to £484.1 million in the 13 weeks to October 2 compared to the same quarter a year earlier.

This was driven by a 9.6 per cent increase in Very sales to £403.8 million, while sales at Littlewoods were down 17.7 per cent to £80.3 million.

READ MORE: The Very Group picks up UN award for work to empower women in Indian textile industry

Group retail sales were up 2.9 per cent, with Very retail sales up 8.6 per cent.

Very Group said it saw a return to “a more typical basket” from its customers during the period following a shift in shopping habits brought about by the pandemic.

Its biggest growth came from the fashion and sports category, where sales were up 14.5 per cent, driven by a particularly strong performance in womenswear high street brands and casualwear brands.

Sportswear increased by 7.3 per cent in the period, with clothing up 8.2 per cent and footwear up 6.4 per cent.

The group made a profit before tax of £13.5 million, up from £8.6 million a year ago.

Its pre-exceptional EBITDA increased to £70.1 million from £57.6 million.

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