Shop Direct Group has said that rising online sales and the demise of high street rivals has boosted its e-tail business.
Shop Direct Group, which runs sites including Littlewoods and Kays, said it had already hit last year’s EBITDA figure of£60.9m in the first nine months of its present financial year, according to TheFinancial Times.
Shop Direct Group chief executive Mark Newton-Jones said that the collapse of bricks-and-mortar homewares and furnishing chains before Christmas has helped lift internet sales 50 per cent year on year since January 1.
Newton-Jones said he expects underlying profits to double to£120m in the year to April 2009.
Later this year Shop Direct Group will bring back Woolworths as an online offer, after it bought the brand earlier this month. It has set up a blog on the site to get ideas and feedback from Woolworths customers.
No comments yet