Fat Face results show business heading in right direction

FatFace — or the company that’s known as Fulham Parent Limited — has filed its ‘annual’ accounts as usual in late October. But this time, they only cover 35 weeks, the period to late January rather than to May. That’s because it’s aligning with Next, which acquired a 97% stake in the company a year ago.

The lifestyle clothing company said that the business had a stable period despite external economic headwinds. Its focus on full-price sales led to a margin improvement and better pre-tax profit.

While revenue declined to £191.6 million in the 35-week period from the comparable 35 week-period’s £205.4 million, it was able to achieve cost savings that resulted in trading profit before tax increasing to £19.5 million from £18.8 million.

But its reported pre-tax loss was £3.2 million as it incurred exceptional costs of £7.9 million, much of that relating to its acquisition by Next and integrating into its systems.

This time, revenue generated through its stores added up to £121.4 million in the 35-week period and digital sales were £71 million. UK sales were £172.5 million, with the US coming in at £14 million, Ireland at £4.6 million and £1.3 million in Canada.