Record-breaking annual sales boost Very Group as it weighs up a £4bn listing
The group behind Littlewoods posted record-breaking annual sales as online shopping continued to boom.
The Very Group – which owns Very. co.uk and Littlewoods.com – said sales were up in all categories from fashion and sport to home goods and toys.
The group’s celebrity and designer clothing lines saw sales grow 69.5 per cent in the year to July 3, including 25 per cent growth of its line by actress Michelle Keegan.
The Very Group ‘s celebrity and designer clothing lines saw sales grow 69.5 per cent in the year to July 3, including 25 per cent growth of its line by actress Michelle Keegan (pictured)
The Very Group chief executive Henry Birch said shoppers are continuing to move online and it is well positioned to take advantage.
The group is believed to have hired advisers exploring a potential listing that could value it at £4billion.
The firm said yesterday it served 4.82m customers in the past financial year, clocking £1.5billion in sales, up 13 per cent from a year earlier.
Pre-tax profit was up 68.8 per cent from a year earlier at £81.7million. It is owned by the billionaire Barclay family, whose interests include The Telegraph newspapers.
If it listed, it would be the first time the Barclays have taken a flagship company public.
It has not confirmed its intention to float and a source said talk of an IPO is ‘speculation’.