The White Company is preparing to launch into the US next year after it revealed it is ahead of its five-year growth strategy.
The White Company chief executive Will Kernan told Retail Week that the fashion and homewares retailer plans to launch into the US through catalogue and online initially, before opening physical stores.
Kernan said: “We are working on [opening] stores in the US but it is early days. I was out in New York last week. I think it’s an obvious place to open. We’ve done a lot of research [on stores] in and around New York but nothing has been signed.”
Kernan said it was “too early to tell” how many stores it could open in the US.
The White Company last week revealed pre-tax profit jumped 5% to £4.7m in the year to March 31 while sales rose 10% to £125.6m. Operating profits rocketed 83% to £7.6m.
Kernan said the company had performed a year ahead of expectations and the five-year plan to enhance its UK operations and grow internationally would need to be updated in the new year.
The White Company improved margins in the year by managing stock and cutting out inefficiencies in the business, Kernan added.
“’I’m absolutely delighted with the performance,” he said. “There is not one area that hasn’t delivered or improved from the retail, distribution, property and buying and merchandising teams.
“They have been obsessive about the quality and provenance of what we sell. We’re also pleased with the development of the clothing and fragrance collections.”
Since year-end to December 7 sales have surged 13%.
The retailer has ramped up its store expansion strategy in the current year, opening nine new stores in the past 11 weeks, taking the estate to over 50 UK shops. Kernan said the aggressive opening strategy was due to the right sites coming on to the market. Last year the retailer opened two stores.
“Great property is a lot like buses, so when he right property comes up we [we take it],” Kernan added.
The White Company also operates 10 franchised stores in the Middle East.