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Shop Direct, which owns online retailers including Very and Littlewoods, has announced an 11% increase in EBITDA to £262.3m and a 9.5% rise in operating profit to £224.6m, for the year to 30 June, driven by strong sales at Very.com.
The merger of Very Exclusive with the Very website may make business sense, but experts question whether luxury brands will be comfortable on the main platform.
Group revenue at Shop Direct jumped by 6.3% in the seven weeks to 22 December 2017, driven by a strong performance from lifestyle site Very and electricals.