Whistles posts 9% increase in FY sales
Whistles, the UK-based fashion retailer, saw sales increase by 9% to £60.2m in the full year to January 31, 2015, up from £55.3m in 2014.
Whistles had a gross profit of £37.7m for the period, up from £35.8m in 2014. However, EBITDA fell from £4.6m to £2m and Whistles' EBITDA return on sales from 8% to 3%. The company said the EBITDA decline was due to one-off expenses associated with the cost of launching menswear, as well as its expansion into the US. The replatforming of the Whistles' website and the difficult retail trading environment also contributed to the EBITDA decline.
Whistles now plans to continue expanding. Director Phil Mickler stated: "The company continues to look for expansion opportunities both in the UK and international territories." Whistles has 49 stand-alone and 57 concession stores in the UK and opened stores in St Pancras, Parsons Green and Birmingham Bullring in the full-year period. The brand also launched in Bloomingdale's in the US in 2014.
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