The White Company profits and sales have edged up following a shift of customer spend back towards the high street.
Operating profit for the fashion and home retailer rose 4% to £33.5m in the 52 weeks to 29 July, up from £32.3m the year prior. However, on an adjusted basis taking exceptional items into account, profit slipped 3% to £31.9m.
Sales also increased 4% to £289.3m, which it attributed to a “strong performance” in stores as customers returned to the high street.
However, it noted the increase in store trading was “partially at the expense of online trade”.
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The White Company said that it would roll out its small-format store concept in the coming year, following the success of its second trial location in Marlborough, south west England.
The retailer has since opened five more stores, which it said were performing “ahead of expectations”, and is in the process of transitioning its distribution centre operations to Wincanton’s automated facility in Corby.
It warned the move would result in “a period of increased costs as we run two operations for the duration of the transition”.
The White Company former CEO Mary Homer, who stepped down last month, said: “I am pleased to announce that we have concluded another year demonstrating continued growth both in turnover and underlying operating profit. In a year when the economic climate remained challenging, this is a credit to all the team that work for the business.
“Our strategy for continued growth both in the UK and internationally is our focus, with continued investment in our digital transformation, stores and our IT infrastructure. But, equally important is our investment in our people and our culture, as this is crucial to our continued success.
“I am also very proud to announce that since the end of this financial year, after a very rigorous assessment, we have achieved B Corp certification. This demonstrates our ongoing commitment as a business to helping build a better future.”
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