Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Positive sales growth at department store group House of Fraser

Department store group House of Fraser enjoyed a strong second half year of trading last year and a positive start to its current financial year.

Figures seen by Drapers show that like-for-like sales excluding VAT in the second half of the full-year period ended January 26, 2013 were up by 4.5%.

Full year like-for-likes at House of Fraser were up 3.3%, with a small improvement in earnings, lower debt and a cleaner stock position.

This compares positively with the wider clothing market, which according to Kantar Worldpanel grew 2.7%, with sales in department stores up 2.6%, during second half of the calendar year in 2012.

Current trading was also positive with like-for-like sales, excluding VAT, for the first four weeks of this financial year up 5.1% with sales growth seen across all categories.

Web sales in the first four weeks of the year were up 44%.

According to city brokers Numis, House of Fraser’s cleaner stock position coming into the new year, means the group “has not suffered from additional discounting and has achieved a higher mix of full-price sales over this period”.

House of Fraser has been the subject of recent speculation regarding a potential takeover bid by sportswear mogul Mike Ashley. So far both House of Fraser and Ashley have declined to comment on any speculation.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.