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Whistles losses escalate despite rise in revenue

By Prachi Singh


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For the year to January 30, 2016, Whistles pre-tax losses reached 15.5 million pounds (19.2 million dollars) against 2.4 million pounds (2.9 million dollars), last year, said a news report by Fashion Network. Despite witnessing a 1 percent rise in revenues to 62.2 million pounds (77.3 million dollars), the company said, it was not able to control the rising losses due to “a difficult retail trading environment” and “the Black Friday promotional event”.

Phase Eight owner Foschini Group acquired a majority stake in the company through its subsidiary, TFG Brands London. Following the acquisition, after eight years of service as chief executive, Jane Shepherdson stepped down in September and the company is now being looked after by Brand Director Helen Williamson, MD Justin Hampshire and Creative Director Nick Passmore.

Whistles retail portfolio consists of 46 exclusive outlets, 74 concessions and six online platforms – including Selfridges and Harrods in the UK and Bloomingdale’s, Brown Thomas and El Corte Inglés in the international markets. Last fiscal; the company launched its debut store in Dubai in partnership with Al Tayer and El Corte Inglés in Spain to open three stores. It is now looking forward to expanding presence in Abu Dhabi, Switzerland and Hong Kong in 2017.