Fat Face enjoys strong Christmas sales
Lifestyle clothing retailer Fat Face said its trading was strong over Christmas with store sales up 11% in the five weeks to 1 January. Online sales increased by 65% and now represent 11% of overall sales.
The retailer also announced its financial results for the 26 weeks to 1 December 2012 in which sales rose by 11% to £87.5 million.
Fat Face opened seven new stores in the half year period and introduced a new EPOS system in its 205 stores. In addition, the retailer said it made market share gains while restoring the brand to a predominantly full price offer.
Anthony Thompson, chief executive of Fat Face, said: "We’re now seeing the benefits of investing in quality, style and value for money and are on track to building a stronger business for better times.
"A resilient first half has now been followed by a strong trading performance over the Christmas period. During the five weeks to 5th January store sales increased by 11% and e-commerce sales by 65%, resulting in record sales across the board."
Alan Giles, chairman of Fat Face, added: "The resilience of our brand is becoming clear as the business is performing consistently in an unpredictable market. Whilst there are always opportunities to improve, trading was particularly encouraging and the business remains well funded and cash generative."
Fat Face will focus on a number of key initiatives in 2013 including the opening of eight to ten new stores in the UK.
Despite the buoyant Christmas trading, the retailer said it remains cautious about the outlook for the rest of the financial year, adding: "We believe that the Fat Face customer offer remains right for this retail market and our customers."
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