EBITDA before exceptional items increased to £8.6m over the period, compared to a loss of £3.4m the previous year.
Total White Stuff sales increased by 41.8% year-on-year to £133.6m. All channels saw an increase in revenue, with retail performing “particularly well” as customers returned to the high street after Covid restrictions were lifted.
Total retail (store) sales increased by 128.4% year-on-year to £62.6m. This was mainly due to the lifting of lockdown measures, but also a strong performance in March and April that continued into the new fiscal year, White Stuff said.
White Stuff opened a new UK store in Cheshire Oaks Designer Outlet (November 2021), 10 new Marks & Spencer concessions and closed two UK stores in Marlow (July 2021) and Windsor (February 2022) during the year. Business ended the year with a total of 125 stores and 55 concessions in the UK.
Digital sales increased 0.4% to £61.3m year-on-year over the same period. While some of its existing customer base returned to stores, White Stuff explained, this was offset by “significant growth” online with outside partners including Marks & Spencer, Next and John Lewis.
Wholesale revenue for the year increased by £4m (+69.4%) to £9.7m.
Total international sales from wholesalers, online, individual retailers and concessions increased by 24% to £11.1m and represented 8.3% of total trade sales.
white things “quietly renamed” last year to showcase the lifestyle retailer’s transformation during Covid-19CEO Jo Jenkins told Drapers. The lifestyle retailer has ditched its established teal and white brand logo, launching a new logo with handwriting style and a sleeker design to better present its modernized product.
White Stuff appointed former Pret-a-Manger marketing director Julia Monro as head of brand in November 2020 to oversee the changes, and hired London-based creative agency Uncommon to carry out the visual transition. branding, including new logo, campaign photography, and content color schemes.
New customers increased 9% last year as a result of the rebranding, White Stuff said.
White Stuff has invested in technology to enhance its multi-channel customer experience, enable growth and drive operational efficiency. Investments in the last year include better stock allocation systems, better multi-channel ordering functionality and better seasonal sales opportunities for the wholesale business.
The company will continue to invest in systems and solutions to achieve operational efficiencies and a better customer experience across all channels.
The retailer said that while it has recovered well since the pandemic, it still faces different economic challenges that directly impact its cost base, as well as a general decline in consumer confidence.
Jenkins said: “This is a strong set of results that reflects the investments we have been making to modernize the business for our clients. We’ve listened to what customers want from us and we’re obsessed with creating the unique, high-quality products they love while offering more contemporary designs. And now we are attracting new customers to the White Stuff brand through new channels.
“While trading has been strong so far this year, particularly in retail and online concessions, and we are confident in the direction of product, we are also well aware of the tightening economic environment and the impact this will have on spending. of the consumer. We have built flexibility into our plans so that we can respond to any opportunity or challenge that arises.”
He added: “We believe that diligent implementation of our business transformation plans will be critical to navigating these challenging times, so that we can continue to offer our customers the best possible experience and fantastic value.”