House of Fraser revealed strong Christmas trading figures

House of Fraser revealed strong Christmas trading figures

UK department store retailer House of Fraser has revealed strong Christmas trading figures, thanks to a 40% jump in Black Friday online sales.

For the six weeks ended 2 January, like-for-like sales were up 5.3% against the prior year period, and up 16.7% against 2014. Black Friday total sales climbed 10%, while online sales for the promotional day were up over 40% on last year.

Cash gross margins grew 6.4% against the comparative period last year, with an increase in margin rate of 40 basis points. 

In the seven days before Christmas, like-for-like sales grew 6%, with a positive performance from both online (up 61.8%) and bricks and mortar stores (up 2.2%). The momentum continued in the seven days after Christmas, with like-for-like sales increasing 6.8%.
 
"We are delighted with our Christmas trading performance both in terms of sales growth and margin improvement," said CEO Nigel Oddy. "This year, we saw a very strong start to the key Christmas season with Black Friday being particularly strong online – our biggest online day ever. Our stores have also performed well over the festive period, in particular our recently refurbished stores which showed strong growth in the final week before Christmas."
 
"The performance demonstrates the success of our ongoing strategy: to continuously improve our online proposition; to develop our House brands and premium brand proposition and work closely with our concession partners; and to invest in our stores to provide our customers with the best possible shopping experience."