House of Fraser in Xmas spirit

Kasmira Jefford
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HOUSE OF FRASER, the department store group, yesterday revealed robust third quarter figures, boosted by the recent revamp of its stores.

In an update issued to bondholders, the privately owned chain unveiled like-for-like sales growth of 5.4 per cent in the 13 weeks to 27 October.

Online sales jumped by a staggering 50 per cent in the same period, it said.

The group said trading in the run-up to Christmas had been strong, with like-for-like sales up four per cent in the first five weeks of the fourth quarter.

Chief executive John King said he expected its strategy to invest in its online offering would drive further growth, but warned that “it continues to be difficult to predict when economic conditions will improve.”