Lifestyle retailer The White Company has reported a 97% increase in operating profit to £12.8m for the year to March 28, thanks to improved buying and a reduced reliance on discounting.
Underlying profit before one-offs and allocations was up 18.4%, while total sales were up 13.8% to £163.6m, compared to the previous year.
Two new stores opened during the period in Milton Keynes and Norwich. Since then it has opened two shops in Meadowhall and Birmingham, bringing the total to 49 stores and concessions, and two outlets. It is also trailing four pop-ups over Christmas.
The business said trading since the end of March had “significantly outperformed” the “tough and promotional market”, with sales up 17% year on year. Store like-for-like sales are up 10% so far this year.
The business said shoppers were responding “very well” to new ranges.
Chief executive Will Kernan said: “In a difficult trading environment The White Company has continued to strongly outperform the market. The exceptional achievements of not just the last year, but the last four years, are a testament to the whole team and a unique brand that this year celebrates its 21st anniversary.”