Following today’s release of The Very Group’s figures for the 52 weeks ending 28 June 2025; Ashley Adeyemi, Retail Analyst at GlobalData, a leading data and analytics company, offers her view: “The Very Group closed FY2024/25 on firmer footing, navigating a tough consumer backdrop with a clear focus on profitability over volume. Group revenue fell 1.8% to £2,087.4m as its more financially constrained shoppers continued to rein in discretionary spending, though Very UK proved resilient, with sales edging down just 0.2% to £1,832.5m. Littlewoods’ 14.0% decline reflects the ongoing managed wind down of the brand. Despite the softer topline, Very strengthened its profitability with adjusted EBITDA up 15.9% to £307.1m and gross margin improving by 1ppt to 36.6%. A tighter handle on costs, alongside a richer sales mix and strong performance from financial services, shows a business that is becoming more disciplined and better balanced for long term growth.
“Toys, gifts & beauty grew 1.5%, supported by robust performances in toys (+4.3%) and beauty (+5.2%), as Very capitalised on rising consumer interest in affordable gifting and self-care. Meanwhile electricals, which accounts for 44.8% of Very UK’s sales, declined 2.0% as the category annualised against last year’s major gaming launches. This highlights the need for Very to drive momentum in steadier sub-categories such as domestic appliances, audio visual and smart home devices. In contrast, home continued to outperform with revenue up 9.9%, led by strong demand for bedroom furniture, accessories, textiles and garden furniture. The retailer has overhauled its home proposition with the launch of Very Home, modernising its own-brand range and adding 50 new labels including Le Creuset and Cath Kidston to broaden its homewares offer. As one of the group’s most profitable categories, home remains central to Very’s margin-led strategy.
“Fashion & Sports tells a mixed story: revenue fell 3.7%, but excluding the impact of Nike’s withdrawal, the category grew 2.1%, supported by a 27.8% uplift in sports. The launch of ‘The Very Collection’ in September 2025 brings together the V by Very and Everyday brands under one unified, design-led fashion proposition. Its London pop-up, The Very Big Wardrobe, showcased this repositioning in an experiential format, signalling the retailer’s ambition to strengthen its fashion credentials. However, this space is highly competitive, with multi-brand retailers such as M&S and Next already blending accessible price points with premium labels. New additions like Diesel and Sweaty Betty help Very stretch its offer, but standing out will depend on consistent quality and strong execution across both own-brand and branded ranges.
“The Very Group is sharpening its digital edge with the rollout of Sigma.iQ, which brings a new level of personalisation to its financial services offer. By allowing customers to view products by monthly cost and tailor payment plans to their budgets, the retailer is widening access to big-ticket items and appealing to households still navigating squeezed finances. Given that Very’s core customer base tends to be more reliant on credit, this is critical to maintaining conversion in a cautious spending environment. At the same time, upgrades to delivery and returns, including later cut-off times and locker collections, will boost convenience, helping Very compete better with fast-moving online rivals like Shein and Amazon. Backed by Carlyle’s capital and digital expertise, the business now has the firepower to accelerate platform innovation and scale its presence in higher-margin categories.”
