Third year of record profits for Shop Direct
The owner of home shopping brands Littlewoods.com and Very.co.uk has delivered its third year in a row of record profits, after earlier ditching the 80-year-old Littlewoods catalogue.
Liverpool-based Shop Direct said its pre-tax profit leapt 78% to £71.7m, as the group drove sales and closed down its smaller websites Woolworths, K&Co and Isme.
It called time on the Littlewoods catalogue in May after 80 years, as it focused on its two key websites, Littlewoods.com and Very.co.uk.
The group sent out just 300,000 versions of its final catalogue, down from five million five years ago and 25 million a year at its height.
Three years ago the catalogue accounted for 72% of the group's sales, but now all revenues come through its online operation.
The online department store sells over 1,100 brands across clothing, footwear, electrical, home and furniture. It said new names sold across its websites this year included River Island, Sonos, Miss Selfridge and Bang & Olufsen. The group also launched a new luxury fashion website called VeryExclusive.