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House of Fraser terminates takeover talks

Mar '06
Department store chain House of Fraser Plc informed that "very preliminary talks regarding a possible offer for the company have ceased."

The company will be announcing preliminary results for the 52 weeks ended 28 January 2006 on 24th March 2006, which will state that in the 6 weeks since 29th January 2006 like for like sales were down 1.4 percent compared to the same period last year, whilst total sales were 16.2 percent up including the Beatties and Jenners acquisitions.

The company previously announced that it expected "...trading conditions to be difficult for at least the first half of 2006 and, in spite of continuing focus on costs, we expect some additional cost pressures in the next twelve months." This position is unchanged.

House of Fraser Plc - The group's principal activity is the operation of department stores throughout Great Britain and Ireland. For accessories, it offers designer sunglasses, handbags, shoes and jewellery. Womenswear brands include Hobbs, Mexx and Sticky Fingers. Menswear brands include Ted Baker, Ben Sherman and Simon Carter.

Accessories brands include Dior and Versace sunglasses, Lola Rose and Mikey jewellery, Dolce & Gabbana watches and Moschino and Billy Bag handbags. Childrenswear brands include Timberland (newborn) and Ted Baker Girls. In January 2005, the group disposed of Swansea store.

House of Fraser Plc

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