FatFace sees store sales decline in December
Casual clothing brand FatFace has reported flat Christmas sales and disappointing store revenues, after a strong performance in the first half of the year.
The group, which has 127 stores across the UK, saw sales grow 2% to £122m in the six months to December, while EBITDA rose 4% to £15.5m.
Strong international demand and a 6% rise in e-commerce sales helped lift the half year results, with international sales contributing £8.7m to the total, the company revealed on Wednesday.
However, FatFace’s performance flatlined in the key Christmas trading period, hurt by a 6% decrease in store sales as shoppers shifted to online shopping.
The decline was partially offset by a 16% increase in online sales and a 32% rise in international sales, resulting in the company’s overall revenue remaining flat in the five weeks to 5 January.
“Christmas shopping patterns appear to be changing driven by Black Friday and growing consumer confidence in online delivery speed and availability,” outgoing chief executive Anthony Thompson said.
“This resulted in an even later surge in December sales across our stores.”
The company is now preparing to welcome former Oasis and Warehouse CEO Liz Evans as its new top boss on 1 March.
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