Fat Face posts 8% growth over festive period, records best week of full price sales ever
Fat Face said its pre-Christmas full price strategy paid off, with full price sales growing 7.9% over the festive period, saying its ‘Price Promise’ resonates with shoppers.
In fact, the brand recorded its best week of full price sales in the seven days to 24 December, it reported on Thursday. This meant that Sale inventory levels were 22% less than last year, allowing the Spring range to be launched 2 weeks early.
The lifestyle clothing retailer launched its ‘Price Promise’ in November, choosing not to participate in Black Friday discounting and starting the Sale as usual on Boxing Day.
“The November 'Price Promise', guaranteeing prices up until Christmas, clearly resonated with our customers, as evidenced by the 7.9% increase in full price sales on the prior year,” commented company CEO Anthony Thompson.
“Our focus on improved quality, design innovation and more choice of luxury yarns, fabric and gifting was also received well, and provides opportunity to further enhance our offer in coming seasons."
The brand said its 4 US stores performed ahead of expectations in their first Christmas trading period. Fat Face has 232 stores in the UK, the Republic of Ireland and the US, and is planning to roll out between 8 and 12 new stores in the UK and US this year.
The business is also planning to open a new distribution centre during 2017.
Despite external effects such as currency devaluation, consumer uncertainty and cost inflation threatening the UK retail market, Fat Face said it remains confident that “with our focus on quality, design modernity and value for money we will remain resilient and become even stronger in a weaker market."
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