STRONG MOMENTUM IN FIRST HALF IS FOLLOWED BY A HAPPY CHRISTMAS
UNAUDITED FINANCIAL RESULTS FOR THE 26 WEEKS TO 2 DECEMBER 2017 AND 5 WEEKS TRADING TO 6 JANUARY
FatFace announces its financial results for the 26 weeks to 2 December 2017 and provides a Christmas trading update.
Unaudited financial results - 26 weeks to 2 December 2017
Total sales up 12% at £120m (2016: £107m) Total EBITDA of £14.9m, 8.0% increase against prior year Like for like sales increased by 7% E-commerce sales up by 27%, now representing 18% of overall sales (2016: 16%) International sales up 61% to £5.5m. 6 stores now open in the US with a further 3 to open in Feb 2018
FatFace also delivered a number of milestone investment projects in the period including a new distribution centre in Havant and a new online platform & website.
Christmas Trading Update
Christmas trading was strong with positive momentum continuing during the peak period. All channels performed well with Wholesale and Concession Partners’ performance a particular highlight, demonstrating the growth of all our routes to market over the period.
Christmas period (5 weeks to 6 January 2018) highlights:
Total Sales up 12% Like for like sales up 8% Record week of full price sales (during w/e 23/12/17) Largest ever week of sales (w/e 30/12/17) Ecommerce sales up 24% International sales up 49% Wholesale and Partner channels up 60%
Anthony Thompson, Chief Executive of FatFace, said
Half year performance:
“FatFace has outperformed the market in the first half while maintaining a full price trading stance. Our US stores continue to perform well and we look forward to further openings in 2018 and beyond. This together with a new Distribution Centre and launch of a new website underpinned a great first half for the Group.”
“Our trading performance over the Christmas period has been strong on all fronts. We continue to believe that giving our customers price integrity before the big day has been central to this performance”. FatFace decided not to open 40 of its 228 stores on Boxing Day, allowing customers and crew to spend time with their families over Christmas which worked well.
FatFace Group Ltd
Anthony Thompson, CEO Tel: 023 9244 1124
James Murray Tel: 020 7034 3555
FatFace is a successful and growing lifestyle clothing and accessories retailer, based in the UK.
Having started in 1988 as a business selling t-shirts and sweatshirts in the Alps, we are now one of the UK’s most recognised multi-channel retail brands stocking a wide range of womenswear, menswear, childrenswear, footwear and accessories, all designed in-house at our headquarters in Havant, Hampshire.
There are currently 169 FatFace stores in the UK high street, 43 in UK holiday destinations/transport locations, 4 outlet sites and 12 international stores in the Republic of Ireland and the United States. Together with an established and growing multi-channel offer, our aim is to make the FatFace brand as accessible as possible for our growing base of customers both in the UK and internationally.
1 All numbers quoted are on an exc. VAT basis (unless otherwise stated).