A surge in online sales has helped British department stores group, House of Fraser, to its best ever Christmas trading period.
In the three weeks to 28 December, House of Fraser recorded an online sales hike of 57.7 per cent, whilst like-for-like sales excluding VAT also went up by 7.3 per cent for the period.
Like-for-like sales for the first nine weeks of its fourth quarter were up 4.3 per cent, according to the firm.
House of Fraser could accelerate plans to list on the London stock exchange in time for the first quarter of 2014, as a number of new issues go from strength to strength. By listing early next year, it’s thought the department store could catch the current wave of new issues that saw the successful launch of Royal Mail and Merlin Entertainments.
House of Fraser is set to launch a men's lifestyle brand named Army & Navy this autumn.
According to the Sunday Times, House of Fraser is pushing ahead with plans for a stock market floatation which could see the company valued at between £300 million and £400 million. The department store is thought to be in the process of appointing investment bankers to oversee the flotation, with some saying an IPO could come as early as January.
House of Fraser reports back on an impressive first half performance, as its online operations go from strength to strength.
Three department stores have today been accused of price fixing with leading underwear brand DB Apparel on a range of Shock Absorber sports bras. Debenhams, House Of Fraser, and John Lewis are all being accused by the Office of Fair Trading of being in serious breach of competition law, by agreeing fixed or minimum prices for the bras.
Maxine Hargreaves- Adams, the daughter of Matalan founder John Hargreaves and the new owner of Nicole Farhi and Fenn Wright Manson, is said to be busy planning a revival for the designer labels. Based in Monaco, Hagreaves-Adams told the Guardian that she is now looking to expand both fashion brands internationally, after investing more than £5.4 million of her own money into the Farhi and Fenn Wright Manson labels.
The British department store group, House of Fraser, is gearing up to trail a new system, ‘virtual queuing’, that will assist customers queuing at the Buy & Collect service.
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