Shop Direct delivers record-breaking Christmas and appoints interim CEO

Shop Direct group achieved a 6.3% increase in group revenue in the six weeks to 22 December and has announced Derek Harding, group finance director, will also take on the role of interim CEO.

The group, which operates the Very.co.uk, Littlewoods.com and the VeryExclusive.com "digital department stores" said the positive results - its sixth consecutive Christmas of record numbers - were driven by a 16.8% growth at Very.co.uk, its largest and fastest-growing brand. Littlewoods, by contrast, was down 12.6%, which was inline with the group's planned, managed but profitable decline of the brand.

CEO Alex Baldock, who will be leaving the business at the end of January (his departure was announced last October when it had initially been suggested he would remain in post until the summer of this year), said the group's "early focus" on mobile had also paid off with mobile accounting for 73% of sales during the period, compared to 68% the prior year.

"Our long-term investments in data and technology continued, with an easier and more tailored Christmas shopping experience for our customers, particularly on mobile devices," he said, adding that it had been a "privilege" to lead the online retail group's team since 2012.

"I’m immensely proud of what we’ve achieved together; turning a dusty old catalogue retailer into a growing, profitable and innovative etailer. Derek is an outstanding leader, and as I hand him the reins I know that Shop Direct will continue to thrive,” Baldock said.

“Shop Direct has achieved one of retail’s most successful transformations over the last five years, thanks to the commitment of our people, the support of our shareholders and Alex’s leadership. There’s plenty more to come over the next five years, when we’ll focus on delivering the next phase of our ambitious plan to become a world class digital retailer," Harding added.