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White Company profits up in 'turbulent' year

The White Company has reported a 26% rise in group operating profit to £14.4m for the 70 weeks to 3 August, using a comparable 52-week period for 2017/18.  

Also using a comparable 52-week period, the company’s group turnover was £217.4m, up 7% on the previous year. This was driven by growth across both UK store and web channels, as well as an expansion of international operations.

The White Company Group has changed its year end date to the end of July to align with its parent company.

During the year, The White Company opened one new store and one new concession in the UK. It also re-sited another store. In addition, it opened its second store in Ireland, began a wholesale arrangement in the US with Nordstrom and launched a euro currency website.

At the end of the year, The White Company portfolio consisted of 48 UK stores, 9 UK concessions, two US stores and two Irish stores, as well as three websites and wholesale arrangements.

In a statement the company said trading since August “has been challenging”, but its peformance over the Christmas period has been positive so far. 

“I am pleased to announce the continued growth in both revenue and profit for The White Company, and I am very proud of what the team have achieved”, White Company CEO Mary Homer said. “In the context of the turbulent retail environment, growth has come from all channels, with positive LFLs in retail being particularly encouraging.

“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.

“The customer and our passion for product remain at the heart of our business, and delivering the best product and customer experience is critical to our success.”

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