Online retail giant Very Group could be the next big name in line for an IPO with a report that its owners, who also own the Telegraph newspaper, are exploring the potential of a £3 billion+ stock market float.
E-tailer Very Group has reported a buoyant set of figures for its festive period with the seven weeks to Christmas seeing group revenue up 15.3% year-on-year. It surpassed £500 million for the period for the first time.
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.