Retailer Whittard of Chelsea has pledged to open more stores across the UK in 2025 and 2026 after notching up its fourth year in a row of growing sales.
The tea, coffee and hot chocolate retailer said rising revenues were helping offset surging costs across the business, while new concepts were being rolled out across its expanding store estate, such as tea tasting stations.
It posted a 9.1% rise in net revenues to £49.8 million for 2024, with UK sales up 6.5% to £42 million, helping earnings jump 12% to £2.4 million, according to its latest set of accounts.
On a like-for-like basis, Whittard said sales grew 6% in a “tough retail environment”.
It opened new UK shops including in Oxford, Nottingham, and Gatwick North Terminal last year and said it would launch more stores nationwide in 2025 and 2026.
Chief executive Nathan Smith said: “2024 marked our fourth consecutive year of growth, reflecting the growing appeal of our brand from consumers across the globe.
“There is no doubt that we are operating under a tough backdrop, but we remain focused on our priorities, ensuring we have continued growth momentum that can outpace continued rising costs.”
The firm said 2025 so far had got followed a “similar pattern to 2024, with rising cost pressures, being offset by stronger trading results”.
With over 40 stores nationwide, the group said it remains a “key brand on the UK high street”.
But it is also growing its overseas footprint, with international expansion focusing on Asia, the US, Middle East and Europe.
“We are excited about the future, and are committed to build on our strong UK presence, whilst expanding to target markets globally,” said Mr Smith.
