FatFace full year EBITDA declines to 29.7 mn pounds

FatFace has reported that for the 53 weeks to June 3, 2017 sales increased as the company invested in space expansion and a new 80,000 sq. ft. distribution centre, now fully operational. Total sales increased to 226.1 million pounds (299 million dollars), while EBITDA decreased to 29.7 million pounds (39 million dollars) but on a constant currency basis increased 0.9 percent.

Commenting on the full year trading, Anthony Thompson, Chief Executive of FatFace, said in a statement: “In rapidly changing trading and currency environments, this result again demonstrates that FatFace is a resilient business. We continue to make significant progress with our group strategy, doubling the US store estate and moving into a new distribution centre at Dunsbury Park. These business investments will start to see a return in the coming year, when we will also launch a new web platform to support our multi-channel plans for growth.”

10 new stores were opened including three in the US during the year under review. In addition, the company added that first US department store partnership with Von Maur was signed and is trading.

“Whilst the current outlook remains challenging, FatFace’s continued focus on quality, design and price integrity, positions the business very well. We are therefore confident that the current momentum will continue during the all-important winter season,” added Thompson.

Picture:FatFace website