Online Retailer’s Strong Performance Amidst Competition
- 6.1% increase in revenues during the festive period
- Sales growth across all four product categories
- 9.6% increase in sportswear sales
- 5.7% increase in electricals sales
- 1.4% increase in homeware sales
- 2.9% increase in other categories
- 3.4% increase in total revenue (including financial services income)
- 14.4% increase in website visits to 92.5m
- Sales completed via the Very app up by 32.3%
- Henry Birch, group CEO at The Very Group praises team’s efforts
- Continuing momentum in 2020 with rebrand as The Very Group
- Very.co.uk worth £1.5bn with three million active users
Online retailer Very, operated by The Very Group, has reported a 6.1% increase in revenues during the seven weeks leading up to December 27th. Sales growth was seen across all four product categories: sportswear (9.6%), electricals (5.7%), homeware (1.4%), and other categories (2.9%. Total revenue, including financial services income, increased by 3.4% year-on-year. Website visits rose by 14.4% to 92.5m, with sales via the Very app up by 32.3%. CEO Henry Birch praised the team’s efforts and announced plans to continue momentum in 2020 as The Very Group, following a recent rebrand. The company, which includes Very.co.uk and Littlewoods, is now worth £1.5bn with three million active users.
Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about Very’s revenue increase and sales growth across different categories, as well as website visits and sales from the app. It also includes a quote from the group CEO discussing their strategy and rebranding efforts.
Noise Level: 3
Noise Justification: The article provides relevant information about the increase in revenues and sales growth for online retailer Very during the festive period, as well as website visits and app usage. It also includes a quote from the CEO discussing their strategy and rebranding efforts. However, it lacks in-depth analysis or exploration of long-term trends or consequences of decisions.
Financial Relevance: Yes
Financial Markets Impacted: The financial markets and companies impacted include The Very Group (operating as an online retailer) and its subsidiary brands such as Very.co.uk and Littlewoods.
Financial Rating Justification: The article discusses the increase in revenues, sales growth across various categories, website visits, and financial services income of The Very Group, which is related to financial performance and business operations.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There are no extreme events mentioned in the article.
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