Belfast Telegraph

House of Fraser in sales leap

By Graeme Evans

House of Fraser showed improved sales for the summer in the first results it has published since its takeover by a Chinese firm.

The department store chain – the £480m buyout of which by Sanpower was completed this month – said like-for-like sales were up 4.2% in the six months to July 26. They also strengthened in the second quarter.

The improved performance was driven in part by the firm's web business, with online sales rising 12% and accounting for 14.2% of revenues. Sales growth in its 59 UK and Ireland stores was 1.2%.

Chief executive John King said the takeover had given the company a strong platform to develop internationally. He also pledged £150m of investment in the UK over the next four years to boost store and web sales.

Belfast Telegraph