Fat Face Sales Rise

LONDON (Reuters) – British fashion chain Fat Face posted a 3 percent rise in sales for the five weeks to Jan. 5 and said trading conditions were getting tougher.

The privately-owned group, which sells clothes, footwear and accessories, said on Thursday earnings before interest, tax, depreciation and amortisation (EBITDA) fell 4.1 percent to 11.8 million pounds ($17.3 million) in the 26 weeks to Nov. 29.

Sales for the half-year period were up 1.8 percent at 62.8 million.

“These are some of the harshest conditions in retail,” Chief Executive Louise Barnes said in a statement, adding the next six months were likely to be even more difficult.

Fat Face, which is owned by private equity firm Bridgepoint, said it maintained profit margins at the previous year’s level by managing stock well and discounting less. (Reporting by Mark Potter; Editing by David Holmes)