Fat Face dives into American market
Tuesday 23 July 2013
The us has proved a graveyard for many of Britain’s retailers but the casual clothing chain Fat Face said yesterday it was “confident” about launching there.
Fat Face plans to open two to three stores on America’s East Coast in the next two years, as it posted a sharp jump in annual profits after selling more products at full price.
Tesco, Sainsbury’s and Marks & Spencer have abandoned the US in the past 12 years, but Fat Face said it would open stores “cautiously” as well as introduce a US website.
Anthony Thompson, chief executive, said: “It was a considered decision based on an awful lot of research, which gives us the confidence to go in there.”
Fat Face’s underlying profit grew by 35 per cent to £31.2m over the year to 1 June, on increased turnover of £179m.
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