Fat Face eyes U.S. launch after strong results
British company Fat Face is ready for its next phase of growth as is posts a record 29% increase in full-year profit. The casual clothing retailer has also outlined plans to open stores and a dedicated website in the American market within the next two years.
The company, which operates 200 stores in the UK and Ireland, said EBITDA reached 31.2 million pounds for the year ending June 1st, with turnover rising to 179 million, an increase of 9% on the previous year. Online sales at the company jumped by 27% for this financial year.
Chief executive Anthony Thompson 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 executive, however, remains cautiously optimistic about the future? "I expect the market to remain highly competitive. However, consumer sentiment appears to be more optimistic than 12 months ago,” he continued.
The company has also announced the arrival of new CFO Helen Cowing who will join the company on August 1.
Copyright © 2021 FashionNetwork.com All rights reserved.