Retail news round-up on July 22, 2014: White stuff posts ‘strong’ full-year peformance, McColl’s posts half-year profits dip, Two New Look directors depart, Matalan to open its first ever Oxford Street store.
White stuff posts ‘strong’ full-year peformance
White Stuff has revealed EBITDA up 30.7% to £16.6m on sales up 16.2% to £115.7m in the year to May 3. Like-for-like sales jumped 8.5%. The fashion and homewares retailer said the strong performance was due to its product, a focus on trading at full-price and the success of its multichannel offer. Online sales surged 47.9% to £24.1m.
McColl’s half-year profits dip and sales up
McColls posted operating profit up 14.6% in its half-year, as like-for-likes jumped 2.1%. But the convenience retailer, which floated on the stock exchange in February, revealed pre-tax losss of £4m due to exceptionals linked to the cost of the IPO. Total sales increased 3.6% to £444.2m. Adjusted EBITDA increased 10.9% to £15.9m. It said it remains on track to achieve full-year expectations.
New Look loses two directors in short succession
New Look sales director for UK and the Republic of Ireland Mark Axon and group HR director Julie Blomley have both departed in the last few weeks, according to Retail Week’s sister magazine Drapers. UK managing director Danny Barrasso is believed to have assumed Axon’s responsibilities. Meanwhile, Blomley’s responsibilities are being taken on by interim chief financial officer Richard Collyer.
Matalan to open first ever store in London’s Oxford Street
UK fashion and homeware retailer Matalan has sealed a lease agreement to open its inaugural outlet on Oxford Street, London, according to Drapers. The store spanning 15,000 sq ft is believed to be number 149/151 Oxford Street and is slated open in Spring 2015.