Profit up 79 per cent
Outdoor clothing and footwear retailer Fat Face revealed it is gearing up to make a move into the wholesale market as it posted a 65 per cent EBITDA increase during the year to May.
The private equity owned business posted sales of£80.8 million, up from£60.7 million last year, and a 79 per cent increase in operating profit from£7.5 million to£13.4 million. EBITDA at the retailer climbed to£16.9 million from£10.2 million in the 52 weeks.
Fat Face chief executive Louise Barnes said brand strategy and a strong proposition helped produce an ‘exceptional performance’.
In a statement, the business added: ‘We are looking forward to building on our strategy during the coming year, by developing initiatives in licensing and franchising together with trials in wholesaling.’
The chain opened 18 stores last year and is set to replicate that this year. Total sales in the first 13 weeks to the end of August delivered a 43 per cent increase against the same period last year. Fat Face was acquired by Advent International in April of last year and the group operates 120 stores in UK, Ireland, France, and Iceland.