FatFace hails strong year
Lifestyle clothing brand FatFace has increased both its sales and EBITDA in the year to 2 June.
Total sales rose by 7.4% to £238.4 million while retail like-for-like sales were up 4.9% following a strong womenswear performance. Online sales climbed by 11.8% and now account 18.2% of trade.
Meanwhile, EBITDA increased by 5.6% to £30.2 million.
Anthony Thompson, chief executive of FatFace, said: “We’ve had a really strong year at FatFace, growing both sales and EBITDA and maintaining the positive momentum created in the prior year.
“This was thanks to the hard work and investment in the business over the last 24 months. Our longstanding full price trading stance also continued to work well, especially at key trading times.
“We made further investment in ecommerce and successfully added increased capacity at our distribution centre. As a result, the business has strong foundations on which it can build in the coming five years.”
During the year FatFace opened five new stores in the US to take the total number of shops in the country to 11. Worldwide FatFace now has a total of 233 stores.
The retailer also embarked on some exclusive collaborations. These included working with Graduate Fashion Week, Liberty, the Natural History Museum, and the continuation of its relationship with the Princes’ Trust. It also introduced a semi-formal range called Copper & Black.
Regarding the outlook, Thompson added: “The current retail environment remains difficult and there appears to be no prospect of conditions improving in the short term. We will continue to be focused on quality, design and price integrity and will seek to continue the positive momentum in today’s results in the coming 12 months.”
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