White Stuff sales rise as founders look to sell stake
- Published: 13 May 2008 10:13
- Author: Marino Donati
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- Last Updated: 13 May 2008 10:25
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White Stuff saw like-for-like sales rise 7% for the year to April 26, with operating profits hitting £6.9m.
Total sales rose 39% to £43.8m for the period.
KPMG is due to send out a sales memorandum for the business today. Founders George Treves and Sean Thomas plan to sell a minority share of their 80% stake in the business to raise cash for expansion.
The 49-store White Stuff chain, which sells boardsports inspired men's and women's casualwear, opened eight stores during the financial year.
White Stuff plans to have 75 stores in the UK in the next three years, as well as opening more stores overseas.
White Stuff chief executive Sally Bailey said that the company's wholesale business, home shopping operation and retail stores had all seen growth.
