Fashion retailer Fat Face is to launch in the US as it posted a 29% jump in EBITDA over its year to June 1.
The retailer is eyeing locations on the east coast for its first US store, which it plans to open in the next two years. It is also plotting a US website.
Fat Face chief executive Anthony Thompson said: “We’ve done extensive research and there’s critical mass. There’s sufficient size [of customer base] to make the business scalable in the long-term.”
EBITDA jumped 29%, or 35% on a 52-week basis, to £31.2m over the year. Sales jumped 9%, or 12% on a 52-week basis, to £179m. Thompson said the positive momentum had continued into June and July.
He said: “It’s been a good year for Fat Face. We have seen record sales, improved earnings and created a firm foundation for continued growth.”
The 200-store retailer is eyeing further growth in the UK and is looking to grow its portfolio to 250 shops. It opened 10 stores last year and Thompson said that it would focus on its transport hub stores.
Fat Face online sales jumped 27% over the year. It launched click-and-collect earlier this year, which now accounts for 30% of online orders.
Outgoing Fat Face chairman Alan Giles said: “These are very strong results. Fat Face is in good shape and ready for its next phase of growth here in the UK, online and internationally.”
Sir Stuart Rose succeeds Giles as chairman on Friday. The retailer has also hired Helen Cowing from vending group specialist Selecta Group as chief financial officer. She starts at the retailer on August 1.