The White Company posts rise in annual turnover and profit

The White Company Group has changed its year-end date to the end of July to align with its parent company, and so the published results for the latest financial year are for an extended 70-week period. The company said in a statement that despite the ongoing challenges impacting the retail sector, group operating profit of 14.4 million pounds (18.7 million dollars), increased 26 percent on the previous year, using a comparable 52-week period, while operating profit for the extended 70-week period was 13.6 million pounds(17.7 million dollars), a 21 percent increase on the previous year.

“I am pleased to announce the continued growth in both revenue and profit for The White Company. In the context of the turbulent retail environment, growth has come from all channels, with positive LFLs in retail being particularly encouraging. We have also made further strides internationally in line with our strategy. The performance of this current year is stable, which is encouraging in the current retail climate,” said Mary Homer, the company’s Chief Executive Officer in a statement.

The White Company’s revenues grow, continues retail expansion

The company added that using a comparable 52-week period, group turnover was 217.4 million pounds (282.9 million dollars), up 7 percent, driven by good growth in both UK stores and web channels, as well as an expansion of the international Operations.

In line with the rest of the retail sector, the company said, trading since August has been challenging, but its performance over the important Christmas period has been positive. The company has opened a further two new stores in Southampton and Windsor as well as two concessions in Fenwick’s Canterbury and Bentall’s Kingston.

During the year under review, in the UK, The White Company opened one new store and one new concession, and re-sited another store. In addition, the company opened its 2nd store in Ireland, commenced a wholesale arrangement in the US with Nordstrom Inc., and launched a Euro currency website. At the end of the year, our portfolio consisted of 48 UK stores, nine UK concessions, two US stores and two Irish stores, in addition to the three websites and wholesale arrangements.

Picture:Facebook/The White Company