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White Stuff reports strong sales growth of 13.6 percent in FY15

By Prachi Singh

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Business |REPORT

Total sales at White Stuff for the fiscal year 2015 increased 13.6 percent to 131.4 million pounds ( and sales on like-for-like basis increased 5.3 percent. Online sales witnessed a jump of 36.5 percent, which now contribute 25 percent to the total sales. International sales grew by 71.6 percent and underlying EBITDA increased 16.8 percent.

The company continues to grow its UK retail network and opened nine new stores during the year and four concessions in Germany. All channels performed well, with profitability benefitting from good gross margins and strong cost control. Closing one store and a concession in the year, the company concluded the year with 95 stores and 39 concessions. Plan is to continue adding suitable retail locations that would complement the multi-channel strategy.

White Stuff reports strong sales growth

Commenting on the performance and way forwards, CEO, Jeremy Seigal said, “We continue to develop a highly differentiated product and service for our customers and continue to invest in growing the business both in the UK and overseas. To further strengthen and focus our international ambitions, I am also delighted to confirm the appointment of Peter Ridler, as International Director, from September 2015. Peter joins us from Musgrave, where he was Managing Director. He brings a wealth of international retail experience from senior roles at Centrofashion, Monsoon Accessorize, The Body Shop International, Staples UK and Tesco.”

Since the establishment of the White Stuff Foundation in 2010, the company has generated charitable donations of over 1.6 million pounds (2.4 million dollars) for local charities, raising over 0.5 million pounds (0.7 million dollars) in the last financial year alone. Through sales of ‘Made for Change’ charity bags and bunting, the company also continued supporting children’s scholarships in Bangalore, India. In FY15, the company donated enough funds to provide around 170 scholarships. White Stuff also featured for the seventh consecutive year, in The Sunday Times Top 100 companies to work for.

White Stuff