Jobs cut, but profit returns

FATFACE, the clothing retailer, has cut nearly 300 jobs but returned to profitability in its first full year under the ownership of FISE 100 heavyweight Next.

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The company was acquired by the Leicester-based group for £115.2m in October 2023, a move that initially led to a reported pretax loss of £3.2m for the 35 weeks ending 27 January 2024. This figure has since been revised