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House of Fraser reports ‘solid’ Christmas trade

House of Fraser had a 2.7% increase in like for like sales over the Christmas period, driven by online Black Friday and Boxing Day Sales.

In the six weeks to 31 December cash gross margins improved by 1%.

Beauty was the strongest performing category over the festive period. During the Black Friday event total sales were also up by 2.7% on 2015 and online accounted for 41% of all sales across the six-day event.

The department store group said the two weeks to 31 December delivered “record sales figures”.

Nigel Oddy, House of Fraser chief executive, said the performance was “solid”.

“[The results] were driven in part by very strong online demand over Black Friday and good Boxing Day week Sales. In addition, we are delighted by the results achieved in our recently refurbished stores, which have consistently appeared among our top performing stores over the Christmas period. Our recent performance is evidence that our multichannel proposition, combined with the huge breadth of products and brands we provide, is working well for our customers.”

Frank Slevin, chairman of House of Fraser, added: “This is a good performance during our key trading period; having been supported by the investment we have made in our stores, our people and our core infrastructure over the last two years. We commenced laying the foundations for the transformation of the business in 2016 in anticipation of a challenging retail environment, and as we look forward to 2017 and beyond we must continue to adapt as the retail sector evolves.”

Readers' comments (1)

  • But what about the profit? Only the end of the year accounts will show whether the constant discounting by HOF has actually made them any money. Far too early for them to crow.

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