White Stuff has returned to profit following a branding overhaul last year.
The fashion retailer recorded EBITDA before exceptional items of £8.6m during the year to April 30, up from a loss of £3.4m the year before.
Total sales for the same period jumped 41.8% year on year to £133.6m, driven by the return of physical shopping.
White Stuff reported total store sales up 128.4% year on year to £62.6m following the lifting of pandemic restrictions at the beginning of the financial year.
Online sales inched up 0.4% to £61.3m, while wholesale revenue increased by 69.4% to £9.7m.
White Stuff expanded its third-party partnerships with retailers Marks & Spencer, Next and John Lewis, offsetting much of the lost online growth.
The fashion and lifestyle retailer “quietly rebranded” last year, seeking to modernise its image, resulting in a 9% uptick in customer numbers.
Chief executive Jo Jenkins said: “This is a strong set of results that reflects the investments we have been making to modernise the business for our customers.
“We’ve listened to what customers want from us and are obsessed with creating the unique, high-quality products they love, while also offering more contemporary designs. And we’re now attracting new customers to the White Stuff brand through new channels.
“While trading has been strong so far this year, particularly across retail and online concessions, and we are confident in the product direction, we are also very conscious of the tightening economic environment and the impact this will have on consumer spending. We have built flexibility into our plans so that we can respond to any opportunities or challenges that lie ahead.”
“We believe the diligent implementation of our business transformation plans will be fundamental to navigating these challenging times, so we can continue to offer our customers the best possible experience and fantastic value.”
- Get the latest fashion retail news and analysis straight to your inbox – sign up for our weekly newsletter
No comments yet