Tuesday, August 16, 2022

White Stuff Xmas sales leap 11.4%

Fashion retailer White Stuff has announced an 11.4 per cent rise in total sales over Christmas as full price sales performed strongly despite heavy discounting throughout the sector.

Retail sales jumped 9.1 per cent year-on-year in the six weeks to January 4th 2013 as its gross margin climbed 7.8 percentage points.

Commenting on the strong results, Sally Bailey, White Stuff CEO said: “Despite the continuing economic uncertainty, White Stuff has performed well over the 2012 Christmas season.

“In particular, we are encouraged by the level of full price sales, which set against a backdrop of heavy discounting on the high street, delivered a 27.2 per cent increase in cash margin.

“We continue to make customers happy by delivering a unique in-store environment. We have also seen positive reactions to our expanded product portfolio.

“This, coupled with our improved multichannel capability has helped us to build an engaging and seamless brand experience, which has led to high rates of retention across a broad customer base.”

Online sales soared over the period, up 51.5 per cent on a year previously while its Milton Keynes store, which opened in November last year in the city‘s thecentre:mk shopping mall, also reported positive sales over the festive season as Bailey noted the store “performed ahead of plan and has delivered strong results during this critical trading period.”

Looking ahead, the retailer is working hard to realise its growth strategy both on the high street and online.

Bailey concluded: “Whilst we are making good in-roads in many areas, and feel cautiously optimistic about the future, we still have plenty to do.

“We will continue to deliver on insights gained from our research programme, whilst operating within the context of our brand values.

“We will also focus on developing and implementing operational improvements and cost efficiencies, alongside ongoing enhancements to our product range and multichannel proposition”.


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