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Whistles posts £5m loss

Whistles reported a pre-tax loss of £5.1m for the year ended January 31, 2009 - its first 12 months under the leadership of former Topshop boss Jane Shepherdson.

Sales were £35.2m over the year.

According to accounts filed at Companies House, the group’s gross profit margin was 59%, rsulting in gross profit for the period of £20.9m.

The company’s distribution costs and administrative expenses were £24.3m - 69% of sales.

Shepherdson joined Whistles as chief executive in January 2008 and set about repositioning the premium womenswear chain away from its boho roots to have a more contemporary and minimal handwriting. According to sources close to the business sales initially dipped as traditional Whistles shoppers deserted the new look. However sales are thought to have been on an improving trend in recent months as new customers discover the collections.

 

Readers' comments (1)

  • I had high expectations from Whistles following the appointment of Jane Shepherdson two years ago but I have had to wait until recently to see much of a change. The product seemed to turn a corner just before Christmas and I hope that is only because they have had other things to contend with until now. Lets hope the ranges going forwards build on what we have seen for autumn 09.

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