US: Shop Direct posts "strong" Christmas sales
Shop Direct Group, the UK's largest catalogue and online retailer and operator of the Littlewoods, Very and Isme businesses, has today (10 January) posted strong Christmas sales - but said it remains cautious in its outlook.
For the six weeks to 29 December, total sales excluding VAT were up 5% on the same period last year.
The company saw increasing demand for its own-brand fashion after it sold 140,000 own label dresses during the period, up 32% on the prior year. Margin rate, however, edged down 0.3% due to a shift in the product mix.
The week commencing 9 December was the busiest of the year, the group added.
Group CEO Alex Baldock said: "This Christmas was well ahead of last year against strong comparatives, demonstrating that our combination of great products, market-leading financial services and unique e-commerce capabilities is hitting the right note.
"Peak trading came later than ever, highlighting customers' growing trust in the online and mobile retail model and our ability to deliver."
Looking forward, the retailer expects sales to slow heading towards Easter and remain broadly flat for the year, Baldock emphasised.
"With consumer confidence remaining subdued, retailers will have to fight even harder to win market share.
"To ensure we remain a winner, we will continue to invest in delivering a great digital shopping experience for our millions of customers, whenever, wherever and however they choose to shop with us."
- Improved supplier capabilities benefit Next
- China and Vietnam lead US apparel imports in July
- THE FLANARANT: Understand win-win or lose out
- Next H1: What the analysts say
- Abercrombie & Fitch to lose logos in fashion focus
- Brandix selects first "game-changing" innovations
- TPP talks "make progress" but issues remain
- Bagir to invest in Ethiopia as H1 loss deepens
- US cotton production set to decline
- H&M goes green with Conscious Denim
- Wool in the 21st Century: new prospects for a familiar fibre
- Apparel Market in China to 2018 - Market Size, Trends, and Forecasts
- Global market review of denim and jeanswear – forecasts to 2020
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details
- Global Database of the Top 1000 Cut and Sew Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details