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White Stuff profits dented by investment but sales up

Lauretta Roberts
02 August 2019

White Stuff has reported a 31.6% drop in EBITDA to £4.1m in the year to 27 April, despite an uplift in sales, due to investment in its digital operations and a higher than expected level of discounting.

Sales at the mid-market fashion and lifestyle retailer were up 2.6%, which compared to a 6.2% drop in the prior year. Store sales slipped -0.2%, but online revenues were up 8% and wholesale up 4.3%. International sales were up by an impressive 28%.

Throughout the period the company had expanded its digital exposure through Next Label and grew its store and online footprint in Germany.

The company also reported that it had hired The Body Shop’s managing director North America, Toby Milton, to the newly created role of multichannel director. He will join in October.

White Stuff is run by former Marks & Spencer clothing chief Jo Jenkins, who joined the business in autumn 2018. She replaced Jeremy Seigal. Founded in 1985 the company operates around 120 UK stores. Read more in its profile in The Intelligence. 

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