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Aug 20, 2015
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UK's Fat Face posts FY results, plans US expansion

Published
Aug 20, 2015

Fat Face, the UK casualwear fashion retailer, posted a 2.7% increase in full-year sales in the year to May 30, 2015, up to £205.4m.

The company also gave more information about its plans to open stores in the US, as reported in June. The overseas plans have progressed and a US website is now up and running. In the fourth quarter of 2015, Fat Face will open its first store in the country, in Portland.

Fat Face said its sales increase in the period was due to UK space expansion and the continued growth of e-commerce. E-commerce sales rose by 11.1%, and now represent over 16.2% of overall sales (2014:14.9%.) The majority, 64%, of visits to the website came from tablet or mobile.

However, Fat Face posted a lower EBITDA of £36.5m (2014: £39.3m) in the period, as a result of unseasonably warm weather in Q2 and increased capex investment.

Anthony Thompson, Chief Executive of FatFace, said: “After a difficult second quarter where the sector as a whole was impacted by the unexpectedly warm weather, we traded well through the Christmas period and over the year have continued to maintain our focus on being a full price retailer."

“The year ahead is a particularly exciting one as we take the FatFace brand to the US. Our dedicated US website is already live and we look forward to the phased roll-out of physical stores, initially on the East Coast. We see a clear opportunity to offer US customers a brand which typifies an active, outdoor lifestyle but we will take a cautious and measured approach to make sure we get it right. With this, and our plans in the UK, we head into the next chapter for the business with confidence."
 

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