Friday, January 18, 2019

White Stuff’s soaring sales growth fails to lift pre-tax profits


White Stuff posted mixed results in its end-of-year report, reporting an uptick in like-for-likes and sales but a fall in profits.

The fashion retail chain reported a 2.9 per cent drop in earnings before interest, taxes, depreciation and amortization (EBITDA) for the year ending April 30, but underlying EBITDA rose 0.5 per cent in that same period. 

The retailer said the fall was due to one-off costs amid growing sales in its online and wholesale divisions.

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Meanwhile, like-for-likes inched up by 0.6 per cent, and total sales rose 10 per cent. Of this, store sales went up 6.5 per cent, online sales spiked by 17 per cent and wholesale sales increased significantly by 24.3 per cent.

White Stuff‘s international sales also grew 28.1 per cent, mainly thanks to its wholesale effort and a new space in Germany.

The retailer has also opened two new outlets in Germany, plus one concession and 10 stores across the UK in the same year period.

White Stuff now has a total of 108 stores and 45 concessions.

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