UNAUDITED FINANCIAL RESULTS FOR THE 26 WEEKS TO 1 DECEMBER 2018 AND 5 WEEKS TRADING TO 5 JANUARY 2019 AND CHRISTMAS TRADING UPDATE
Unaudited financial results - 26 weeks to 1 December 2018
Following a strong first half in the prior year, FatFace has annualised it positively and maintained the momentum built in the last 24 months.
• Total sales up 2% at £122m • Total EBITDA of £15.5m, 4% increase against prior year • Full Price like for like flat on the year • Ecommerce sales up by 6% • International sales up 59% to £8.7m • 13 stores now open in the US with a further 4 to 6 to open before end May 2019
Christmas Trading Update (5 weeks to 5 January 2019):
Early Christmas trading was tough with traffic in the market down during November. Black Friday appeared to be predominately an online event. Momentum then picked up in the final week before Christmas and continued through the Boxing Day sale.
• December sales broadly flat year on year driven by shift to online sales in UK and International growth. (UK Stores sales -6%) • Ecommerce sales up 16% (up 47% on 2 years), including a record week of visits and sales in Christmas week • International sales up 32% (up 65% on 2 years)
Anthony Thompson, Chief Executive Officer of FatFace, said:
“Christmas shopping patterns appear to be changing driven by Black Friday and growing consumer confidence in online delivery speed and availability. This resulted in an even later surge in December sales across our stores.”
A combination of our full price strategy, international growth and investment in ecommerce and logistics’ delivered for FatFace this Christmas”.
FatFace also confirmed that Liz Evans will join as the company’s new CEO on March 1st 2019.
FatFace Group Ltd Anthony Thompson, CEO Tel: 023 9244 1124
Bridgepoint James Murray Tel: 020 7034 3555
FatFace is a successful and growing lifestyle clothing and accessories retailer, based in the UK. It is now one of the UK’s most recognised multi-channel retail brands stocking a wide range of womenswear, menswear, childrenswear, footwear and accessories, all designed in-house at our headquarters in Havant, Hampshire. There are currently 217 FatFace stores in the UK high street and 19 international stores in the Republic of Ireland and the United States. Together with an established and growing multi-channel offer, our aim is to make the FatFace brand as accessible as possible for our growing base of customers both in the UK and internationally.
1 All numbers quoted are on an exc. VAT basis (unless otherwise stated).