White Stuff profits and sales rise in ‘strong’ year

White Stuff posted EBITDA of £7m for the 52 weeks to April 29, 2023, up from £2.9m in the previous year, “when adjusted for non-recurring items” including Covid-related grants and business rate reliefs.

Total sales increased 13.3% year on year to reach £151.4m, while total retail sales for the year were up by 18.1% to reach a total of £73.9m.

Online sales were up 7.3% year on year, while wholesale and international sales increased by 20.6% and 21.7% respectively.

White Stuff said it saw an increase in revenue across all channels, reflecting the “continued success of the business at the early stages of its transformation programme” as it seeks to modernise its image.

Bestsellers during the year included dresses and menswear, with the fashion retailer noting that customers shopped more of its elevated basics “than ever before”.

White Stuff also credited its online performance to “significant growth” from its third-party partners including Marks & Spencer, Next and John Lewis.

White Stuff chief executive Jo Jenkins said: “This is another strong set of results for White Stuff, showing the initial impact of our efforts to transform the business into a modern multichannel brand.

“We’ve listened to what both loyal and new customers want from us, and they are responding very well to our elevated basics and seasonal collections. We attracted more new customers to White Stuff last year than ever before.

“Trading has been good so far this year, including on our new web platform. We are, though, mindful of the ongoing economic pressures on consumers.

“We have flexibility built into our plans so we can respond to any challenges or opportunities that arise, and we will continue to focus on delivering great-quality products to customers through all our channels.

“Our teams are vital to the success of the brand and I’d like to thank everyone at White Stuff for all their hard work in delivering these exceptional results.”