Fatface profits triple
By Sarah Wood | 9th October 2023
Fashion retailer, Fatface, has seen a huge rise in profits, as it continues to expand its store portfolio.
The retailer, which has stores in Cheltenham, Gloucester, Cirencester and Stow-on-the-Wold, saw profits increase by 198% to £17.3m, from £5.8m, in the 52 weeks to May 27.
Sales for the period were up 15% to £282m, which Fatface said was down to all areas of the business performing "ahead of expectations".
UK like-for-like stores sales increased by 15%, returning to pre-pandemic levels. Online sales were up 18%, with an increase in online visitors and bigger order values.
Fatface's North American business saw sales increase by 20%, driven by strong ecommerce growth and a successful Canadian launch.
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