House of Fraser reveals "strong" Christmas trading
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."
Help test our new apparel sourcing tool.
UK department store group House of Fraser has expanded into China, opening its first store in the country today (22 December) in a move it says is a "strong finish" to 2016....
The UK clothing market will grow by £3.2bn in the five years to 2021-equating to 23.6% growth on 2016. However volume growth will not reach pre-recession levels until 2019. Retailers will need to over...
- Trump and the apparel industry – Infographic
- How US border adjustment tax could affect apparel
- British Brexit plans prioritise tariff-free trade
- Apparel factory auditing is in the firing line
- $1.7bn package to boost Pakistan clothing exports
- Cambodia clothing exports at risk from Brexit
- Apparel brands urge Bangladesh PM to address wages
- New project to digitalise European fashion chains
- Brands need to tackle Turkey factory refugee abuse
- JC Penney to roll out hundreds of Nike "shops"
- Outdoor performance apparel 2016: A broader perspective
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Anti-odour clothing: fresh fashion for an active lifestyle
- Global market review of lingerie – forecasts to 2022
- Global apparel markets: product developments and innovations, October 2016