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FatFace reports strong Christmas after benefiting from full price strategy
Lifestyle clothing brand FatFace increased its full price like-for-like sales by 3% year-on-year over its Christmas trading period.
In the five weeks to 2 January, total sales grew by 8% on last year as the retailer maintained a full price proposition throughout the peak trading period and held off from starting its sale until Boxing Day.
FatFace achieved its biggest ever week of sales at £11.2 million in the period compared to £10 million previously. EBITDA rose to £14.3 million in the five weeks from £13.5 million in the corresponding period a year earlier.
December was also a record month online for the retailer with ecommerce sales climbing by 43%. Online sales accounted for 21% of total business with the majority of traffic and sales coming from mobile devices.
Anthony Thompson, chief executive of FatFace, said: “Our full price strategy and multi-channel focus have delivered a strong Christmas trading period. The results demonstrate the resilience of the FatFace brand and reflect the continued investment we have been making in product, service and retail environment in our stores and online. Most notable was the shift towards online and mobile devices with our ecommerce business representing over 20% of total sales for the first time during the Christmas period.”
FatFace will expand further in the UK in 2016 with eight new stores already committed and will also invest in its ecommerce platform. It will also launch its first two stores on the East Coast of the US in Portland in Maine and Lynnfield in Boston.
Other plans include the building of a new distribution centre at Dunsbury Hill Farm which is due to open in early 2017.