White Stuff, the fashion retailer, added to the positive feeling surrounding the retail industry after its financials were boosted by full-price sales.
The privately-owned group reported a positive surge in revenues in the financial year to April, with total sales rising by 2.4% to £155 million.
Full-price sales increased by 6.8%, driven by reduced promotional activity and a concentration on its most popular product lines, which accounted for 50% of all full-price sales.
Underlying earnings also improved by 23% year-on-year, lifting to £8.6 million compared to the previous year's £7 million.
“This has been another strong year for White Stuff, despite a challenging external environment, which reinforces that the commitment to our brand transformation is working,” said chief executive Jo Jenkins.
During the twelve months, the fashion group opened three new stores, including a flagship location in Liverpool, with additional openings planned for Teesside and London Gatwick later this year.
A partnership with M&S was also extended, helping pave the way for a 19% rise in third-party sales.
White Stuff also entered new international markets, including New Zealand, the Czech Republic, and the USA.
“We have continued to create unique, high-quality products that our loyal White Stuff shoppers love, and we have also introduced our brand to many more new customers through store openings, expanding into new markets, and growing our presence in third-party partnerships,” Jenkins added.