Zavvi parent group reports another record year

The Hut Group sees 70 per cent growth

The Hut Group, which includes the e-tail specialist Zavvi, has reported sales growth of 70 per cent for 2011.

Total sales for the year stood at £142 million – 92 per cent of which came through the groups own websites, while the remainder was generated by services rendered to retail partners.

In addition, overseas sales now account for 35 per cent of the Group’s gross revenue.

“2011 has been another record year for The Hut Group,” said the Group’s chief executive, Matthew Moulding.

“Our focus on delivering best in class value and service to our UK and international consumers has enabled the Group to gain market share, particularly in the final quarter. Our business model positions us well against the backdrop of a challenging High Street retail environment and the continuing sales channel shift towards online retail and therefore the Group is very well placed to continue its high growth.“

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