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White Stuff annual profit falls, sales up 6.2 percent

White Stuff said in a statement that the company finished the year with total sales rise of 6.2 percent to 153.6 million pounds (199 million dollars) on last year. However, EBITDA of 14.4 million pounds was down 29.4 percent and underlying EBITDA of 15 million pounds was down 28.9 percent on last year.

White Stuff opened 17 new shops and one concession in the UK during the year under review. In Europe, the company opened doors to six new stand-alone shops and eight concessions and concluded the year with a total of 131 stores and 53 concessions. The company’s international business showed an increase in sales of 41.9 percent to over the year, driven by overseas online sales 26.7 percent and international retail sales of 89 percent.

The company’s online business delivered strong growth of 9.9 percent, which the company said reflected the impact of its multi-channel strategy, an improved delivery proposition and increased investment in marketing.

Commenting on the current trading and outlook, the company added in the statement that it has faced a challenging trading environment since the start of its new financial year. As a part of the company’s international strategy that has highlighted the significant opportunity in the size and scale of the German market, White Stuff has close the two small stores in Denmark and relocate one and open two UK shops.

Established in 1985, White Stuff currently operates 131 shops and 53 concessions within John Lewis, House of Fraser and other independents including 10 concessions and eight stand-alone shops in Germany, three concessions in Belgium and two concessions in Italy; 270 UK wholesale stockists; 470 international wholesale stockists; in addition to an online platformWhitestuff.com.

Picture:Facebook/White Stuff