House of Fraser sales hit record £1.2bn thanks to online success

 
Kasmira Jefford
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HOUSE of Fraser, the privately owned department store, said yesterday booming online sales had helped the group hit record annual sales of £1.2bn.

The retailer, which owns 60 stores across the UK and Ireland, reported a 3.3 per cent rise in like-for-like sales for the year to 26 January.

Online sales jumped by 53 per cent and accounted for 10.9 per cent of total sales last year, thanks to improved delivery options and a strong performance from some of its own brands such as Label Lab womenswear, Linea Weekend.

“We have strengthened our relationships with our brand partners and continued our collaborative approach to improving store environments and selectively refurbishing stores which have generated sales growth and positive returns,” chief executive John King said.

Underlying earnings rose 4.3 per cent to £61.1m and net debt fell to £157.2m, from £163.4m in 2012.

The group said the strong momentum seen in the second half continued in the first 13 weeks to 27 April with like-for-like sales up 4.8 per cent.