The White Company has posted an uplift in full-year profits as investments in IT and its infrastructure helped it navigate the “turbulent retail environment”.
The fashion and homewares business said operating profit increased 26% to £14.4m during the 52 weeks to April 6.
Sales increased 7% to £217.4m over the same timeframe.
The White Company has however changed its year-end date to the end of July to better align with its parent company.
Over the broader 70-week period to August 3, the retailer’s operating profit came in at £13.6m – a 21% increase on the prior year.
The White Company hailed “good growth” across stores and online during the financial year, as well as the expansion of its international business.
It opened its second store in Ireland, kick-started a wholesale partnership with US department store Nordstom and launched a website accepting payments in Euros as it targets growth outside of its core UK market.
The White Company cautioned that trading since its new year-end in August has been “challenging”, but said performance during the crucial Christmas period to-date had been “positive”.
Boss Mary Homer 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 investments we made in infrastructure, IT and moving to new headquarters have been instrumental in our growth.
“The performance of this current year is stable, which is encouraging in the current retail climate.”
No comments yet