The White Company posts 26% rise in profit

The White Company posts 26% rise in profit

The White Company posted a 26 per cent rise in profit for an extended full year report.

The retailer on Thursday posted a 26 per cent rise in group operating profit to £14.4 million in a comparable 52 week period up to August 3.

The business has changed its year-end date to the end of July in order to align with its parent company.

While it is reporting back on an extended 70 week time frame, The White Company used a comparable 52 week period for the 2018-2019 financial year in order to compare to 2017-2018.

Using the same time frames, The White Company said group turnover was £217.4 million, rising 7 per cent on the year before.

“In the context of the turbulent retail environment, growth has come from all channels, with positive [like-for-like sales] in retail being particularly encouraging,” said chief executive Mary Homer.

“We have also made further strides internationally in line with our strategy. The investments we made in infrastructure, IT and moving to new headquarters have been instrumental in our growth. The performance of this current year is stable, which is encouraging in the current retail climate,” Homer added.

The fashion and homeware retailer said the was driven by growth in its UK stores and online, as well as stepping up its international expansion.

In the year to August 3, The White Company began a wholesale arrangement in the US with Nordstrom and launched a euro currency website.

The business also opened two new stores in Southampton and Windsor, as well as two concessions, in Canterbury and Kingston.