Very Group, the owner of the Very and Littlewoods online retailers, delivered a relativity strong Christmas trading performance with revenue up 11.5% compared to pre-pandemic levels two years ago.
However, group revenue over the seven weeks to 24 December was down 3.3% compared to the same period a year ago when the UK was subjected to Covid restrictions, and more shopping was down online.
The Very brand saw sales climb 21.9% compared to two years ago as the retailer achieved double-digit growth in its key electricals, home, fashion and sports categories. The figure declined 2.6% on a year-on-year basis.
The company attributed its robust performance to its strong supplier and delivery partner relationships and automated fulfilment centre Skygate.
Looking ahead, Chief Executive Henry Birch said: “While 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.”
Meanwhile, Very Group also announced today it had appointed former Walmart executive Dirk Van den Berghe as its Non-Executive Chair.
In his most recent roles with the US retail giant, which he joined in 2014, Van den Berghe was responsible for Walmart’s business in Canada, China, India and Japan. He also oversaw Walmart Global Sourcing, an integrated supply chain that supports all the retailer’s divisions in the US and international markets.
Prior to joining Walmart, he held a range of senior roles in Asia and Europe at Ahold-Delhaize (then Belgium-headquartered Delhaize Group), including CEO of Delhaize Le Lion in Belgium, France and Luxemburg between 2011 and 2014.
Birch said: “Dirk has successfully transformed and grown some of the very best companies in ecommerce, marketplaces and payments, and we believe he will make a material difference in helping us achieve our growth aspirations. He is the perfect person to lead our board and assist with strategic options that we are considering over the coming year as we enter the next important phase of the group’s development.”
Van den Berghe added: “It is a privilege to become the Chair of The Very Group. The business has transformed into a digital leader in the UK and Ireland, and is ideally positioned to benefit from increasing consumer demand for both online shopping and flexible payments. I look forward to working closely with the board to deliver profitable growth over the years ahead.”
