Wednesday, January 26, 2022

The White Company earnings surge 51%

The White Company has hailed another record year after tis earnings skyrocketed by 51 per cent.

The latest annual financial report for the lifestyle retailer, which has 55 stores across the UK, show operating profits surged to £17.3 million in the full-year period to the end of March.

It also recorded another year of double-digit sales growth at 12.6 per cent to £184.3 million.

While this was a slowdown on the 14 per cent growth seen the previous year, The White Company‘s chief executive Will Kernan said the current figures were achieved amid “difficult” trading conditions on the high street and in comparison to a “very strong” year to March 2015.

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The retailer opened new shops in Meadowhall and Birmingham over the year, with further outlets since then in Leeds, Liverpool, Bicester, Chelmsford and London’s Marylebone.

“This year we continue to invest in enhancing our customers’ experience through world-class new stores across the UK,” Kernan said.

The White Company said its fragrance ranges performed particularly well, with a 29 per cent surge in sales, along with 26 per cent growth across home and dining and 16 per cent for daywear.

In addition, its direct online business in the US saw “significant growth” in its second full year since launch.

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