Record Christmas trading for House of Fraser
Department store House of Fraser have announced that sales were up 8.5% for the reporting period, despite severe weather conditions experienced across much of the country which impacted trade in the lead up to Christmas.
Margins were up 30bp and House Brand growth was over 50%.
Online sales performed exceptionally well and were up 120% with an over 50% increase in brands offered, helped by services such as Buy and Collect.
For the first time Houseoffraser.co.uk was the biggest store during the peak period. The Board remains confident that the business will continue to see significant growth from the expanding multichannel offer.
House Brands, including the recently introduced Biba, Pied à Terre and Label Lab as well as the established brands such as Linea, Howick, Kenneth Cole and Episode saw sales growth of more than 50% over the period.
Don McCarthy, Chairman of House of Fraser said, “We are very pleased with our Christmas trading performance as we have delivered another outstanding set of results despite recent extreme weather conditions. These clearly demonstrate the success of our strategy in the face of economic uncertainty. I would like to thank John King, the management team, our staff and brand partners for their hard work and support over this period.
The past year has seen solid growth on the back of significant development and investment in our brands, our technology, our estate, and most importantly, our people. However the full effect of these investments will be seen in the year ahead. I am confident that the business will deliver its plans for the remainder of the financial year, and we are well placed to continue to grow during 2011.”
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