Mike Ashley must end the Sports Direct clowning if he is to be the high street’s hero September 13, 2018 Emptying his pockets of wads of £50 notes at a security check, telling a select committee about vomiting in a fireplace at board meetings – Sports Direct boss Mike Ashley is clearly not afraid of theatre. Against type, he has now chosen to play the part of white knight of the high street, but yesterday’s [...]
House of Fraser owner Sanpower eyes takeover of toy shop Hamleys June 15, 2015 The Chinese owner of House of Fraser is rumoured to be planning another buying spree in the UK with the country’s most famous toy shop Hamleys next on its shopping list. Yuan Yafei, the chairman of Nanjing-based conglomerate Sanpower, is understood to be in talks to buy the famous chain from its French owner, [...]
Another director leaves House of Fraser following Chinese acquisition April 27, 2015 House of Fraser is losing another member of its senior team, months into the department store's ownership transition. Chief financial officer Mark Gifford is leaving the company in September after eight years in the role, and 13 years at the company all told. Colin Elliot, a chartered accountant who has most recently worked [...]
House of Fraser posts record sales in first year under Nanjing Xinjiekou as it ramps up international expansion April 21, 2015 House of Fraser's new owners will be toasting their decision to acquire the business, which has revealed record like-for-likes for the year. The figures Like-for-like sales at the department store were up 5.8 per cent, with gross total value (GTV) rising to £1.3bn. Profits rose £29.6m to £460.2m while adjusted EBITDA rose seven per [...]
House of Fraser to open three Chinese stores from next year March 24, 2015 House of Fraser is to try and crack the Chinese market next year, with the launch of a trio of stores beginning next year. The department store business, which last autumn was bought out by Chinese conglomerate Sanpower, is planning to open three branches in second-tier cities Nanjing, Xuzhou and Chongqing. They might [...]
House of Fraser cannot cushion sofa chain’s fall March 23, 2015 SCS GROUP, the sofa chain that listed on the London stock market last month, reported widening losses in the first half of the year blaming costs relating to the launch of its House of Fraser concessions. Pre-tax losses for the 26 weeks to 24 January rose to £13.1m from a £2.54m loss the same time [...]
John King steps down as CEO of House of Fraser February 18, 2015 HOUSE of Fraser chief executive John King has stepped down after eight years at the helm of the department store chain, with chief operating officer Nigel Oddy taking his place. King joined House of Fraser in 2007 just after its was bought by a consortium of investors called the Highland Group which included retail entrepreneur [...]
House of Fraser boss John King departs as department store reveals swathe of changes to top team following Chinese buyout February 18, 2015 House of Fraser chief executive John King is stepping down after eight years at the helm of the department store chain. King's departure comes just months after the business was bought out by Chinese consortium Nanjing Xinjiekou, and follows the retirement of former chairman Don McCarthy. King will be replaced by HoF's current [...]
Record Christmas sales to drive full-year growth at House of Fraser January 6, 2015 House of Fraser has reported a record Christmas, buoyed by Black Friday and strong online sales growth, helping lift expectations for the department store group's full-year results. Like-for-like sales for the six weeks to January 3 rose eight per cent, with online sales up 31.2 per cent while sales from bricks and mortar stores [...]
Christmas 2014: Amazon delivering until December 24, while Marks & Spencer, House of Fraser and Asos face capacity problems December 16, 2014 Worried you've left it too late to order Christmas presents online? You need to get your skates on if you want to avoid paying for special delivery, but some retailers are offering premium services up to the last minute. A new survey of retailers has found a number of businesses that promise to deliver [...]