White Company profit surges, UK and US both strong
It was another record year for UK-based lifestyle brand The White Company as operating profit surged 51% to £17.3m in the 12 months to March 31.
The interiors-to-fashion retailer said it saw continued strong sales growth with a 12.6% rise to £184.3m. The UK was “robust” across all channels and in the second full year of its US direct business it also enjoyed a “significant” uptick.
There was good news on the margin front too as gross margins showed a significant improvement year-on-year.
All product categories performed well for the firm and it saw an impressive 29% increase in fragrance, 16% in daywear and 26% in home and dining.
The company was boosted by its new UK stores in Meadowhall and Birmingham, both of which performed well, while previous store openings continued on an upward trajectory. More recent openings in Marylebone, Leeds, Liverpool, Bicester and Chelmsford have all outperformed expectations, it said.
Copyright © 2023 FashionNetwork.com All rights reserved.