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
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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.