Fat Face reports 12 percent sales growth in 2013

REPORT_ Announcing financial results for the 52 weeks ending May 31, 2014, FatFace said that its total sales increased by 12 percent to 200 million pounds (343.1 million dollars). The company has attributed the profitable growth over the past year to the development of its UK store portfolio and its enhanced

multi-channel offer coupled with increasing e-commerce sales.

It reported a like-for-like sales growth of 7.6 percent and its e-commerce sales increased by 39 percent representing 15 percent of overall sales. EBITDA increased by 26 percent to 39.3 million pounds (67.4 million dollars). Fat Face opened 9 new stores, relocated 7, creating a total store portfolio of 209 during the year.

Commenting on the results, Anthony Thompson, Chief Executive of Fat Face, said, “It’s been another record year for Fat Face, with strong growth in sales and EBITDA. We have made further progress in increasing our coverage across the UK through larger stores that carry more of the Fat Face range and offer greater choice, as well as improving our online offering. The brand continues to resonate with new and existing customers who are as engaged as ever, particularly through social media.”

Looking forward, company plans over the next few months to open its second retail park store, which will be located at Fort Kinnaird in Edinburgh a biggest relocation in York. During the year the Group has also continued to explore potential growth opportunities outside of the UK, and has been developing plans for a carefully controlled trial of 2 to 3 stores on the east coast of the United States within the next 18 months. This investment will be complemented through the development and launch of a dedicated website for the United States.

In addition to selling merchandise through Fat Face retail and e-commerce outlets, the group continues to sell its products through wholesale arrangements with John Lewis and Nuance Group (at Center Parcs locations). It has been selling products through John Lewis since 2006 and in January 2014 it opened womenswear concessions in 21 John Lewis department stores and on the John Lewis website.