Thompson has described 2016 as a “year of investment” for Fat Face, as it continues its bold path of expansion. The lifestyle brand invested £10.1m in the year to 28 May, opening 12 stores – three in the US – and constructing a new distribution centre.
So although EBITDA dropped 8% to £33.5m for the year, sales were up 7.4% to £220.7m.
Thompson has also continued to stand firm in his stance opposing discounting, telling Drapers this year that it was “in danger of making zombie retailers out of all of us”. Instead, Fat Face launched a “festive price promise”, which guaranteed customers that prices would not be dropped during the Christmas period.