Outdoor retailer bucks high street trend
Outdoor clothing and accessories retailer Fat Face has defied the gloom on the high street by posting sparkling full-year results.
Sales at the retailer soared 38 per cent to£111.1 million and operating profit rocketed 62 per cent to£21.7 million in the year to June 2. Operating margin grew to 19.5 per cent – up from 16.5 per cent the year before.
Chief executive Louise Barnes said the retailer expects an “exciting” six months in the new financial year, as it launches its first licensed products this month. It will expand its wholesale partnership with John Lewis department stores and ramp up international expansion with existing and new franchisees.
Barnes added: “These initiatives represent important steps in Fat Face’s growth into a global active lifestyle brand. Alongside this, we remain focused on continuing to open strongly performing stores in the UK to drive growth.”
Fat Face was acquired by private equity company Bridgepoint in May.
Fat Face has more than 140 stores worldwide and has opened an average of 17 stores a year over the past five years.