The White Company sales boosted by strong in-store performance
The White Company has announced an uplift in sales for last year despite a challenging economic backdrop affecting its market.
In its latest accounts covering the 12 months to 29 July 2023, the fashion and homewares retailer said turnover had risen by 4% to £289.3 million. Underlying profits were also up 4% on the prior year, although operating profit was down 3% in the period to £31.9 million after on-off adjustments,
The White Company said the start of the year was impacted by “the worst of the economic conditions”, as well as the August 2022 heatwave.
Despite a challenging start to the year, retailer delivered “good” Christmas sales and improved trading in its second half. The uplift in turnover was driven by a 13% rise in clothing sales, although home sales remained flat against the previous year.
Meanwhile, UK store sales climbed by 15% in the year but online sales fell by 5%.
Mary Homer, who stepped down as chief executive in April 2024, said: “I am pleased to announce that we have concluded another year demonstrating continued growth both in turnover and underlying operating profit. In a year when the economic climate remained challenging, this is a credit to all the team that work for the business
“Our strategy for continued growth both in the UK and internationally is our focus, with continued investment in our digital transformation, stores and our IT infrastructure. But equally important is our investment in our people and our culture, as this is crucial to our continued success.”
Incoming chief executive Paula Nickolds added: “I am delighted to join such a fabulous business with so much future opportunity. The White Company is strongly positioned for continued growth, and we remain cautiously optimistic despite an uncertain economic climate.”
