Fat Face to enter US with new stores despite profit drop
Lifestyle clothing and accessories retailer Fat Face is planning to expand its footprint to the US b…Lifestyle clothing and accessories retailer Fat Face is planning to expand its footprint to the US by opening two new stores.
The move comes despite of the retailer's profit decline by 7%, as sales of coats and knitwear were adversely affected by the warm weather in October and November, The Guardian reported.
The company's sales increased by 2.7% to £205.4m for the year ended May.
The proposed stores will be opened before Christmas, with plans to open three more by May 2016.
Fat Face intends to increase its investment from the £9m invested last year in order to fuel its overseas expansion.
Commenting on the expansion, Fat Face CEO Anthony Thompson was quoted by City A.M. As saying: "The idea is to have around 10-15 stores in 18 months.
"Then we will stand back and see how they perform for a little while and then see where we go next."