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House of Fraser sees improving sales

House of Fraser said like-for-like sales were ahead 1.3% for the first six weeks of the second half, an improvement on first half performance when comparable sales were down 2.7%.

House of Fraser said EBITDA was up 16% to £10.7 million over the first half of the year.

The department store said that trading had improved - second quarter like-for-likes were up 0.5% against first quarter like-for-likes -6.2%. Softer comparatives are likely to mean the trend continues through the second half.

Gross margin improved by 18 basis points.

House of Fraser said it had made cost savings of around £10m in the first half and that stock was down 19% on a like-for-like basis.

It also reduced net debt in the first half by £21m to £293m.

Check back for further updates on House of Fraser later this morning…


Readers' comments (1)

  • But was this profit at the expence of management and staff .As we have seen the numbers and roles down graded or workloads increased . A poor retailer can make a profit by reducing staff numbers to make a saving . And the wonder why their customer service ranks behind Marks and independents in local surveys .

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