Shop Direct has released good full-year results on one level, but not so impressive on another. Its Very operation has outperformed, but Littlewoods has struggled and the group as a whole remains loss-making.
The heavily flagged arrival of Topshop on Asos is set to happen later this month with the Arcadia-owned brand debuting on September 30. ‘Brother’ brand Topman has been available via the online retail giant since June.
The Very brand boosted Shop Direct in its latest year with sales and customer numbers rising. But while operating profit is rising too, one-off items kept it lossmaking, although it's upbeat for the future.