Fat Face boss Anthony Thompson departs

He will leave the business in January. His next move is unknown, as is who will be his successor. Chairman Lord Stuart Rose said that the business expected to be able to announce the new chief executive shortly.

He added that Fat Face was keen “to build on progress over the last few years as we enter a new period of growth and investment”.

US expansion

Fat Face has been one of a coterie of lifestyle retailers that have fared relatively well despite the downturn which has hit mid-range high street businesses. It is currently gearing up for expansion in the US, where it now has 11 stores.

An increase in profits and sales was recorded in its last full year, with the burgeoning American business driving growth.

EBITDA rose 5.6% to £30.2m in the 52 weeks to June 2, 2018. The retailer was hit by currency headwinds as on a constant currency basis EBITDA rose 23.4%. It did not however release a pre-tax profit figure.

Like-for-likes were up 4.9% thanks to a strong womenswear performance and the annualising US stores brought in 20% like-for-like growth.

Thompson said: “It feels the right time for the business and for me personally to move on to new challenges and the next stage of my career. I shall miss Fat Face and would like to thank all the team who have been so supportive.

“I consider myself very fortunate to have been able to lead such a great business.”