×
6 989
Fashion Jobs
VIVIENNE WESTWOOD
PA to Creative Director
Permanent · LONDON
DR. MARTENS
eu HR Administrator - French And/or German Speaking
Permanent · LONDON
HARRODS
Cleaning Operative- Day or Night
Permanent · LONDON
HARRODS
Uniform Security Officer (Cctv Operator)
Permanent · LONDON
FLANNELS
Beauty Brand Manager - Pat Mcgarth
Permanent · BELFAST
HUGO BOSS UK LTD.
Sales Executive - Shoes & Accessories + Bodywear & Hosiery
Permanent ·
HUGO BOSS UK LTD.
Womenswear Sales Manager
Permanent ·
HUGO BOSS UK LTD.
Ecommerce Marketplace Manager Northern Hub
Permanent ·
HUGO BOSS UK LTD.
Finance Manager (Maternity Contract)
Permanent ·
HUGO BOSS UK LTD.
Sales Executive Boss Menswear
Permanent ·
GANT
Brand Consultant - Full Time - Gant House of Fraser Manchester - mw/lw
Permanent · MANCHESTER
CANADA GOOSE
Security Ambassador, Full-Time
Permanent · MANCHESTER
NEXT
Delivery Coordinator - Northampton Outlet
Permanent · NORTHAMPTON
NEXT
Sales Manager - York Vangarde
Permanent · YORK
EVERLAST GYMS
General Assistant - Everlast Gyms
Permanent ·
EVERLAST GYMS
General Assistant - Everlast Gyms
Permanent · NEWCASTLE UPON TYNE
AVON
Indirect Procurement Junior Manager
Permanent · NORTHAMPTON
AVON
Internal Audit Manager Natura &CO
Permanent · LONDON
HEAD OFFICE
Customer & Marketing Planning Manager – Technology
Permanent · LONDON
PRIMARK
Visual Merchandising Manager (Level 1)
Permanent · Cambridge
ALL SAINTS
Franchise Account Executive
Permanent · London
FRASERS GROUP
Warehouse Supervisor - Night Shift
Permanent · SHIREBROOK
Ads
Published
May 24, 2018
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Shop Direct in the red with £10.7m loss

Published
May 24, 2018

Shop Direct continued to make strides as the UK’s second largest online retailer in the third quarter, however regulatory costs linked to PPI claims has pushed the parent company of Very.co.uk into the red.


Very.co.uk


In its third quarter report the group revealed a loss of £10.7m for the nine months to 31 March, compared to profits of £57.4m for the same period last year. The number includes regulatory costs of £100 million, which the company has set aside to pay PPI claims.

PPI, or payment protection insurance, was usually sold with loans, credit cards and store cards, however it has been found that it was often mis-sold. Shop Direct, which offers store credit to customers, paid back nearly £80 million to customers during the nine month period.

Beyond the loss, Shop Direct’s year-to-date performance was characterised by strong growth at its Very brand. Group revenue, comprising retail and financial services, increased by 1.6% to £1.51 billion, boosted by Very which recorded revenue growth of 10.6% to £1.06 billion. Meanwhile, Littlewoods continued its planned decline with revenue down 15% to £445 million.

The group’s retail sales grew 1.2%, but clothing and footwear revenue growth stalled 0.6%. Shop Direct said childrenswear and sportswear performed well, as well as beauty and gifting products. Furniture and homeware revenue declined by 9.4%.

The company moved into the final quarter of the year with a new CEO, Henry Birch, who joined the business on 14 May.

Copyright © 2022 FashionNetwork.com All rights reserved.