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Signs of turnaround at Whistles as sales rise

Womenswear retailer Whistles has posted a growth in sales and EBITDA for the 62 weeks to 1 April 2017, as the business bounces back from a loss the previous year.

The retailer, part of The Foschini Group, which also owns Hobbs and Phase Eight, reported total sales for the 62 week period grew by 18% to £68.9m.

Sales for the 12 months to March 2017 were £59m, up 1.5% on the prior year.

Overall, the business reported a pre-tax loss of £3.7m for the 62 weeks to 1 April 2017, compared to a loss of £6.1m for the 52 weeks to 30 January 2016. The loss this year was in part attributed to restructuring costs and the writing off of obsolete stock.

Despite this, EBITDA rose to £1.7m for the 62 week period, while in 2016 Whistles reported a loss of £2.9m over 52 weeks to 31 January 2016.

The business reported strong online sales growth, which grew 35.1% compared to the 12 months previous. This growth occurred on Whistles’ own brand and concessions based websites. However, in store sales and concessions dropped for the period. 

 

 

Readers' comments (2)

  • So, we have new retail metrics - comparing 62 weeks with 12 months LY!!? Maybe Next should try that one tomorrow.

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  • And the important LFL sales and profit numbers?

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