FatFace results show transitional year, but company is upbeat for the future

FatFace — or more specifically Fulham Parent Limited — has filed its first set of financial results including a full year of trading as part of Next. It fleshes out the basic figures for the year that it issued back in August.

The accounts, covering the year to the end of January 2025, show lower revenue as the company adjusted to its new status as part of its parent company’s ever-expanding group, although it said that while in the short term this had a financial impact, “ultimately it will set the business up for long-term success”.

In the year, revenue declined to £237.4 million from £267.7 million and trading profit before tax fell to £16.9 million from £21.6 million. Statutory profit before tax was £3.8 million, up from a £5.3 million loss in the previous period, which had only covered 35 weeks. Underlying profit before tax was £11.29 million, up from £2.6 million in that shorter previous period.

The company said that it has made good progress in executing its strategy and financial objectives and continued to focus during the year on full-price sales with a strategic approach to discounting a specific time of the year. Its store network continues to be a core part of its offer and it opened new stores during the year, including in Blanchardstown, Ireland.

It also successfully migrated it systems onto the Next Total Platform infrastructure, which will give it additional digital capabilities.

The retailer said the last year was one of external economic headwinds as well as the internal changes, but despite all the disruption it had some positive highlights.

They included on the product front with growth in its smarter product proposition across womenswear, menswear and accessories to help it meet a broader range of customer needs. It said the positive response from its customers affirm this strategic direction.

It also invested in its non-clothing gifting range as it saw strong momentum, particularly during the Christmas season.

And as mentioned, it continues to open stores with three new ones debuting during the year (and several more since the period-end), as well as refurbishing seven and refreshing 28 shopfronts.

Cash generation for the year remained strong, despite the exceptional fees incurred in implementing the total platform infrastructure.

As well as a busy 2024, the company has also been very active in 2025 and only this month announced it was expanding its petite sizing as well as collaborating with the V&A for an autumn collection. And it has moved into Germany in a digital deal with Zalando (a company with which Next has ever-closer connections). The company has also closed its US stores and gone online-only in that market.