Whistles bounces back from loss with annual sales growth

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Whistles

Whistles has shown strong signs of bouncing back from a year of loss after it recorded an 18 per cent uplift in sales in its last financial year.

For its 62 week period ending April 1, 2017, fashion retailer’s sales came in at £68.9 million, with online sales alone growing 35.1 per cent.

When looking at the 52 weeks leading up to March 2017, sales still rose by 1.5 per cent to £59 million.

Whistles said there was overall growth in sales on its own-brand and concessions-based websites, but in-store sales and concessions dropped.

Whistles’ EBITDA also rose to £1.7 million for the 62 week period ending April 1, compared to a loss of £2.9 million recorded for the over 52 week period ending January 2016.

However, Whistles recorded a pre-tax loss of £3.7 million for the 62 week period ending April 1 last year.

Nonetheless, it was still an improvement on the loss of £6.1 million recorded for the 52 weeks to January 30, 2016.

The most recent loss was partly attributed to restructuring costs and the writing off of obsolete stock.

Whistles is part of The Foschini Group, which also owns Hobbs and Phase Eight.

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