UK: House of Fraser returns to Q3 earnings growth
- Q3 EBITDA GBP3m, versus a loss of of GBP1.3m last year
- Like-for-like sales up 5.4%
- Early Q4 like-for-likes up 4%
Department store retailer House of Fraser returned to positive earnings in the third quarter, with like-for-like sales up 5.4% and online sales surging up 50%.
The company said that investing in stores and e-commerce remained integral to its strategy, with refurbished stores performing well in recent months.
“The board is pleased with the performance over the third quarter and we continue to believe that the strategy to invest in our stores and online proposition, as well as the further development of our product offering, will drive future growth,” said John King, House of Fraser chief executive.
But he added: “It continues to be difficult to predict when economic conditions will improve and retail competitor activities have intensified in recent weeks.”
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