Home / Knowledge / News / Fashion / House of Fraser reports strong christmas trading
House of Fraser reports strong christmas trading
08
Jan '08
After first full year under new management and ownership, House of Fraser announces strong Christmas trading.

House of Fraser, which was acquired by Highland Acquisitions Ltd on 8th November 2006, today reports strong like-for-like growth for the key Christmas period. Sales, on a like for like basis, during the last five weeks to 3rd January 2008 were 2.4% up on the same period last year. The Christmas trading performance is particularly pleasing given the very strong comparators for the prior year.

Gross profit over the same 5 week period was also up on last year. In addition, House of Fraser has continued to improve its stock management and its inventories have been reduced by 20% compared to the same time last year.

Commenting on the performance, Don McCarthy, Chairman of House of Fraser said; “The strong Christmas trading period has been a superb end to effectively our first year in control of House of Fraser. We have seen both like-for-like sales growth and an improvement in our margins despite the general tough retail trading environment.

John King, his management team and all staff have done an amazing job during the year both on a financial and retail perspective. We have met all our financial objectives. Our debt position is over £110 million better than the original financing plan, and we currently have cash deposits of over £113 million, £35 million more than last year."

"Furthermore, we have reduced the number of sale days with the result that full year margins have improved. At the same time we have invested heavily in our stores with 15 stores receiving the first phase of their refit programmes, including the ground floor of our flagship Oxford Street store.


Must ReadView All

Courtesy: Asmara Group

Apparel/Garments | On 20th Sep 2018

Fragmented nature of Indian apparel sector major challenge

A major challenge for the Indian apparel sector is its fragmented...

Courtesy: Pexels

Textiles | On 20th Sep 2018

Risk to US consumers grows with tariff escalation: NRF

The US National Retail Federation (NRF) has expressed disappointment...

India's 2018-19 forward cotton export contract up by 100%

Textiles | On 20th Sep 2018

India's 2018-19 forward cotton export contract up by 100%

Rise in demand from China, lower domestic prices and depreciation of...

Interviews View All

Shiladitya K Joshi, Truetzschler India Private Limited

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Top executives, Textile industry

Top executives
Textile industry

The foremost issue is bridging the skill gap

Headhonchos, Indian textile value chain

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Vikas Banduke,

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Sugandha Bhardwaj,

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Sarah Perkins,

Sarah Perkins

Fairfax, Virginia-based Specialty Graphic Imaging Association (SGIA) is a...

Paolo Ocleppo, Sandvik Hyperion

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mark Paterson, Technical Absorbents Ltd

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Lynda Kelly, Suominen Corporation

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search