White Stuff reports online sales up by 47.9%
has reported online sales of £24.1m in its latest financial year, 47.9% up on the previous year.
The growth means that ecommerce now accounts for 20.8% of White Stuff’s total sales of £115.7m. “We expect this channel to continue to deliver significant growth,” the fashion retailer said in its results statement. Growth in its latest year, it said, came as a result of increased spending on marketing, site development and multichannel improvements.
Online sales also helped to drive its international business, where sales rose by 70.5% in the year.
Total retail sales grew by 8.9% to £86.9m in 53 weeks to May 3, from £79.8m last time, while wholesale sales were up by 38.2% to £4.7m (£3.4m), taking total sales up by 16.2% to £115.7m, from £99.5m last time.
Earnings before interest, taxes, and asset writedowns rose by 30.7% to £16.6m, from £12.7m.
Chief executive Jeremy Seigal said: “We have started the new financial year well, benefitting from a very positive reaction to our summer ranges. We continue to develop a highly differentiated product and service for our customers and continue to invest in growing the business.”
White Stuff, founded in 1985, sells through 89 UK stores, concessions overseas and online.