House of Fraser bagged itself a record Christmas trading period for the six weeks to 3 January thanks to loyal festive shoppers and a strong performance on Black Friday.
It has been revealed that owner of Sports Direct Mike Ashley has a variety of stakes in other brands such as JD Sports and House of Fraser, which are worth nearly £200 million.
Widespread offering of Black Friday deals in the UK indicates that retailers are banking heavily on the weekend to kick start the Christmas sales season.
House of Fraser is planning to bring out a new service that delivers customers their products within 13 hours of ordering, and even before they leave to go to work.
Department store House of Fraser is to next month open its first multichannel store in another retailer's premises, following a partnership with Caffè Nero. The result will be a concept store that mixes House of Fraser's shopping technology with Nero's relaxed, coffee shop feel.
Premium department store House of Fraser on Wednesday revealed online sales excluding VAT were up 29 per cent for its first half to 26 July, and now represent 14.2 per cent of sales. Like-for-like sales rose 4.2 per cent, with the continued growth of House of Fraser’s in-house brands up 10.7 per cent.
Yuan Yafei, chairman of Sanpower Group, the largest shareholder of Nanjing Cenbest, said he was “delighted” to complete the purchase of House of Fraser on Tuesday, adding: “It is an unprecedented transaction and the largest acquisition of a foreign retailer by a Chinese listed company."
It was announced on Friday that Nanjing Xinjiekou Department Store were to add $245 million to wholly-own subsidiary Cenbest – in order to pay for its 89 per cent of Highland Group Holdings of England as well as other overseas acquisitions.
Accessories Amazon Asda Christmas Expansion & Franchise Fashion HR News High Street John Lewis London Marks & Spencer Media News Results Retail Retail and Consumer Industry Retail news Sainsbury's Shopping Store Tesco UK US brand china consumer deal deals and rumours department department stores e-commerce electricals expansion fashion news finance food luxury morrisons my online online retail people profit retail industry retail property retailer sale sales supermarket waitrose