Whistles sales up 7.1% driven by new stores and concessions

Premium womenswear retailer Whistles has recorded a 7.1% increase in total sales in the year to 31 March 2019, driven by new store and concession openings, as well as online growth.

According to its latest accounts, sales reached £73.4m during the year, compared to £68.5m in the prior year. On an EBITDA level, its earnings grew from £4.5m to £5.4m (up 18%). As a result of an increase in administrative costs, including the impact of exceptional items, profit after tax was down from £3.5m to £1.9m.

At the time of the accounts filing, Whistles operated 51 stores in the UK, as well as 106 concessions and was sold via 8 online outlets. The company said it was committed to working with its ultimate parent, South Africa's Foshchini Group, "in looking for expansion opportunities in the UK and in international territories, as well as continuing to seek improved profitability".

The Foschini Group, which also owns Hobbs and Phase Eight via TFG Brands (London), acquired the then loss-making Whistles in 2016. It returned it to profit in the year ending March 2018 and a year ago it undertook a reshuffle of its top management team in the UK, appointing former Whistles brand director Helen Williamson to the role of managing director.