By Seb Joseph

Shop Direct’s profits surged 78 per cent to £71.7m in its financial year, with the business crediting its decision to become a fully digital retailer for the upswing.

The jump occurred in the year ending to 30 June, the seller’s third consecutive year of record profits. Sales for the group, which owns Very.co.uk, VeryExclusive.co.uk and Littlewoods.com rose 3 per cent to £1.8bn in the period, with Very.co.uk contributing more than £850m due to a 21.1 per cent sales hike.

It’s testament to the rapid but efficient transition of the business from offline to online, encapsulated by its decision to axe the Littlewoods Read full story ›

Source: The Drum