Fat Face: Not rushing to make price cuts paid off

Tough trading conditions saw first-half sales stay broadly flat. Picture: Contributed

Tough trading conditions saw first-half sales stay broadly flat. Picture: Contributed

Share this article
0
Have your say

FASHION retailer Fat Face said its decision not to cut prices before Christmas was “vindicated” by a 13 per cent rise in sales for the five weeks to 3 January.

However, the firm – which last year shelved plans for a flotation amid volatile conditions on the stock market – added that first-half earnings were broadly flat at £19 million after it was hit by tough trading conditions and unseasonably warm autumn weather.

Total sales for the 26 weeks to 29 November came in at £99m, which was unchanged from a year earlier.

Chief executive Anthony Thompson said: “We’ve emerged strongly from this trading period and are well positioned for the remainder of the year.”

Fat Face is chaired by former Marks & Spencer boss Lord Rose and backed by private equity group Bridgepoint.

The chain started life in 1988 when founders Jules Leaver and Tim Slade began selling T-shirts and sweatshirts from a campervan in the French Alps, and now has 212 stores across the UK and Ireland, including three in Edinburgh, one in Aberdeen and two in Glagsow.

Back to the top of the page