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Fat Face plots US expansion following "very strong" results

Lifestyle retailer Fat Face is expanding into the US with plans to open stores followed by a dedicated US transactional site within the next two years.

The 205-store retailer revealed its plans as it announced a 9% increase in turnover to £179m for the 53 weeks to June 2 with EBITDA up 29% to £31.2m. The unaudited results also show that online sales soared by 27% over the period.

Fat Face opened 10 stores over the year, relocated a further six and refurbished nine. It also repaid £18m of debt.

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. We’ve also seen the benefits of continued investment in product, service and store environment. This has been well received by customers and remains our priority.

“I expect the market to remain highly competitive. However, consumer sentiment appears to be more optimistic than 12 months ago”.

Thompson added that the momentum had continued into the new financial year thanks to a well received summer collection and strong marketing campaign.

Outgoing Fat Face chairman Alan Giles added: “These are very strong results. Fat Face is in good shape and ready for its next phase of growth here in the UK, online and internationally.”

Giles will be succeeded by former M&S executive chairman Stuart Rose, who takes over the role on July 26.

Meanwhile, the company has also appointed Helen Cowing as chief financial officer. She joins on August 1 from vending machine business Selecta Group.

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