PS5s and perfumes boost seasonal sales at The Very Group
The Very Group’s sales over the Black Friday and Christmas periods were boosted by the popularity of games consoles and perfumes, new figures have revealed.
The company has confirmed that Very’s UK sales increased by 3.4 per cent year-on-year in the seven weeks to December 22, 2023, while group revenue rose by 2.1 per cent.
Revenue on toys, gifts and beauty jumped by 8.8 per cent year-on-year while electrical sales grew by 7.4 per cent.
In a trading update, The Very Group said that the PlayStation 5 and Xbox Series X consoles were among the top-selling items along with Marc Jacob perfumes.
The business, which is headquartered in Speke, Liverpool, is owed by the billionaire Barclay family who also own delivery group Yodel in the region.
Group chief executive Lionel Desclée said: “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.”
The results come after The Very Group’s profits slumped by over 90 per cent while its sales stalled during its latest financial year.
The business reported pre-tax profits of £4.6m for the 12 months to July 1, 2023, down from £63.9m. Its revenue also remained static at £2.1bn.
For the first quarter of its current financial year, the 13 weeks to September 30, 2023, the group’s revenue rose from £469.4m to £473.4m but it went from making a £2.2m pre-tax profit to a loss of £5.8m.