The White Company posts full year sales and profit growth
The White Company has increased its annual sales and profit despite a “turbulent” retail environment.
The retailer has changed its year end date to align with its parent company. This means its published results for the financial year to 3 August are for an extended 70-week period.
However, group operating profit rose by 26% to £14.4 million when using a comparable 52-week period. Using the same period, group turnover was up 7% to £217.4 million.
During the year, The White Company opened one new UK store and one concession. It also launched its second store in Ireland and teamed up with US retailer Nordstrom on a wholesale arrangement.
At the end of the financial year, the retailer had 48 UK stores, nine UK concessions, two US stores and two Irish stores.
Looking at more recent trading, The White Company said it has experienced challenging trading since August, although its performance has improved over the Christmas trading period.
Mary Homer, The White Company chief executive, said: “In the context of the turbulent retail environment, growth has come from all channels, with positive like-for-likes in retail being particularly encouraging. We have also made further strides internationally in line with our strategy.
“The performance of this current year is stable, which is encouraging in the current retail climate.”
