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House of Fraser's online sales up 16.1%
Apr '17
Courtesy: House of Fraser
Courtesy: House of Fraser
British department store group House of Fraser's online sales have gone up by 16.1 per cent like-for-like sales growth. With gross profit of £483.1mn, the company has witnessed like-for-like sales growth (excluding VAT) of 0.9 per cent, with a total gross transaction value (GTV) of £1.3 bn in line with last year, for the first half of fiscal year 2017.

There was a strong growth of 3.6 per cent in branded sales, whereas womenswear sales declined by 0.6 per cent. "We are pleased to report another strong set of results despite continued challenging trading conditions across the retail sector. To deliver such a strong set of results for the year is a testimony to the resilience of our business model, and credit to the expertise and dedication of the new senior management team and our thousands of colleagues across the Group who strive to exceed our customers’ expectations every day," said Colin Elliot, CFO of House of Fraser.

"The retail environment is changing and we must continue to innovate, challenge and strive to be what our customers want us to be. The strengthened leadership team has meticulously reviewed every part of our business and has set out a clear vision for the future direction of the business. It is important that House of Fraser leads in providing the space and experience that attracts our customers to come and spend time in our stores, to make shopping with House of Fraser a lifestyle-led experience. With great teamwork, newly refurbished stores and a greatly improved web platform, I am confident that the Group has the solid foundations to deliver long term growth and sustainable profitability over the coming years," said Frank Slevin, executive chairman of House of Fraser.

The Group has also developed a new vision for the future strategic direction of the business encompassing three key strategic pillars: Product, Customer and Infrastructure, all under an overarching objective of transforming its relationship with customers from a transactional interaction to an experiential, lifestyle-led relationship. (RR)

Fibre2Fashion News Desk – India

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