Whistles reports fall in profit and sales

Whistles has said that its EBITDA for the 52 weeks ending January 30, 2016 decreased to 2.9 million pounds (3.5 million dollars) and sales were down 1 percent, due to the 53-week comparative period in 2014/15, states a report published by Drapers. The company has attributed the decline in EBITDA to the “challenging retail trading environment” during the year under review, it adds.

Last year the company’s sales for the 53 weeks, the report further states, increased 11 percent to 62.9 million pounds (77 million dollars), while EBITDA declined from 4.7 million pounds (5.7 million dollars) to 2.4 million pounds (2.9 million dollars).

Phase Eight owner Foschini Group acquired a majority stake in the company through its subsidiary, TFG Brands London. Following the acquisition, after eight years of service as chief executive, Jane Shepherdson stepped down in September and the company is now being looked after by Brand Director Helen Williamson, MD Justin Hampshire and Creative Director Nick Passmore.

Whistles retail portfolio consists of 47 exclusive outlets, 86 concessions and six online platforms – including Selfridges and Harrods in the UK and Bloomingdale’s, Brown Thomas and El Corte Inglés in the international markets. Last fiscal; the company launched its debut store in Dubai in partnership with Al Tayer and El Corte Inglés in Spain to open three stores. It is now looking forward to expanding presence in Abu Dhabi, Switzerland and Hong Kong in 2017.

Picture:Whistles