Very reports 'strong' Christmas trading, despite dipping clothing sales

The Very Group has published strong Christmas trading results, despite Fashion and Sports sales dipping by 3.9% year-on-year in a "challenging market".

During the golden quarter, seven weeks to 22 December 2023, Very UK, Littlewoods and Very Ireland's retail sales grew by 3.4% year-on-year, supporting group retail sales growth of 2.1% year-on-year.

Very’s performance was consistently ahead of the UK online non-food retail market and represents growth in market share during the period.

Although fashion sales reflected a decline in demand, the group reported "good growth" in the premium fashion category.

Lionel Desclée, Group CEO at The Very Group, commented: "Our team delivered a brilliant range of products, strong pricing, an engaging new marketing campaign, and an improved online experience to give families everything they needed this Christmas.

"As expected in the current economic climate, consumers were on the lookout for amazing deals. We served these to existing customers and plenty of new customers during our Black Friday campaign with games consoles, wireless earbuds and perfume among our best sellers.

"Whilst we are pleased with these results, we also know that the year ahead will be challenging for all retailers. However, our operating model, which combines multi-category digital retail and flexible ways to pay, will remain resilient and continue to provide families with a one-stop-shop for everything they need."