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House of Fraser first half sales up 1.7%

Department store group House of Fraser saw its like-for-like sales rise by 1.7% in its first half and has recorded a “strong start” to the second half of its financial year.

GENERAL MERCHANDISE

House of Fraser first half sales up 1.7%

Department store group House of Fraser saw its like-for-like sales rise by 1.7% in its first half and has recorded a “strong start” to the second half of its financial year.

Internet sales were up 60% in the first half as the group continued to invest in its online proposition. EBITDA rose 0.8% in the second quarter to £12.5 million.

In the eight weeks to 22 September like-for-like sales increased by 4.6% driven by strong sales of of fashion brands such as Linea, Biba and Howick.

The best performing stores were Aylesbury, Telford and Milton Keynes where like-for-like sales in the second quarter were up 31%, 27.2% and 10.8% respectively.

House of Fraser said: "We are pleased to report a solid set of results despite difficult market conditions. Our strategy to invest in our stores and online proposition as well as further develop our product offering will continue to drive growth.

"It continues to be difficult to predict when economic conditions will improve. However, we are encouraged by the strong start to the second half.

The group added: "We will continue to focus on further improving customer service and maintaining the operational efficiency of the business and tight control over costs and cash. We believe that, with this strategy, we are well placed to continue to deliver for the remainder of the year."

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