British department store House of Fraser’s like-for-like sales rose 8.1% in its first quarter driven by the performance of its e-commerce platform. House of Fraser’s online sales rose 40% during the 13 weeks to May 2, building on the 32% growth the retailer reported in its full-year results in April.
In-store like-for-likes also improved during its first quarter, rising 3.1% compared with the same period last year. Additionally sales from concessions, including French Connection, Mango and Whistles increased 9%, and branded sales were up 8%.
The figures came after House of Fraser reported record annual sales of £1.3 billion in the year ending January 31, a jump of 5.8% with adjusted EBITDA up 7% on the previous year to £64.4 million.
House of Fraser – which was acquired by Chinese conglomerate Sanpower Group for £480 million last year – plans to invest £150 million in its UK operations during the next four years, revamping shops and developing its ecommerce platform. It will also expand into China with branches planned for Nanjing, Chongqing and Xuzhou.
Words by Farimah Moeini, Snapchat Head of Industry – Retail and Travel TheJuly 5, 2021 | By RetailME Bureau
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