FatFace slips to loss following sale to Next

In October 2023, Next acquired a 97% stake in Fulham Parent Ltd - the FatFace Group - for £115m. Fatface’s latest filing to Companies House shows a statutory profit before tax of £3.2m, compared to £19.5m for the full 2023 financial year. The most recent filing is for 35 weeks, to align with Next’s reporting period.

FatFace said it experienced "exceptional costs" of £7.9m for the period, which mostly related to the Next acquisition.

FatFace’s revenue declined to £191.6m, compared with £205.4m for the same period in 2023. However, trading profit before tax increased to £19.5m, from £18.8m in 2023. The business attributed this to an improved margin as the business focused on profit over sales growth.

Will Crumbie, FatFace CEO said: “Against the backdrop of a challenging external environment, we have delivered a robust performance for the 35-week period.”

He said the focus on full price sales had led to “an improvement to margin and profit before tax as our beautiful products continue to resonate with our growing customer base”.

“Our stores continue to be fantastic places to visit and shop, and our digital presence remains a key part of our offer,” he added.