UK: House of Fraser silent on hire of IPO advisers
A float could reportedly happen later this year
UK department store retailer House of Fraser has remained tight-lipped on reports it is to hire advisers ahead of a potential initial public offering (IPO).
According to a report in The Financial Times, HSBC and Numis could be appointed to advise on a possible GBP350m (US$575.1m) IPO.
A float, the newspaper added, could happen later this year if House of Fraser does not agree to be sold to French department store group Galeries Lafayette.
House of Fraser, however, declined to comment on the situation when contacted by just-style yesterday (6 January).
The department store retailer hailed its "best ever" Christmas trading period earlier this month, helped by strong fashion and online sales.
The group, which operates 61 stores in the UK and Ireland, saw like-for-like sales (excluding VAT) for the three weeks to 28 December increase 7.3%. Online sales jumped 57.7%, while fashion sales grew by 9.8%.
During the first nine weeks of its fourth quarter, House of Fraser said like-for-like sales excluding VAT were up 4.3%.
Galeries Lafayette is expected to show a good performance over the forecast period and even open some new outlets. This is mainly due to the visits of foreign tourists (in its flagship store in Paris)...
This report provides information, analysis and valuable insight on developments relating to the global apparel industry in the following categories: acquisitions, divestments and mergers; corporate so...
Retail increased at a moderate growth in 2013 despite the economic slowdown, which began two years previously as a result of a decrease in activity in Europe, which is the country's chief economic par...
The report provides a review of M&As, capital-raising, partnering deals, and agreements entered into by retail companies during December 2012....
This report provides information, analysis and valuable insight on developments relating to the home textile industry in the following categories: acquisitions, divestments and mergers; corporate soci...
- Low labour cost countries linked to highest risks
- Why should brands care about China cotton?
- UK reshoring hub hit by sweatshop claims
- New fibre and fabric innovations for outdoor wear
- China cotton: implications and opportunities
- South Africa to grow grass for recyclable textiles
- US West Coast port contract reached
- 30% of Adidas cotton from sustainable sources
- Activewear driving US apparel spend
- Benetton to embark on living wage roadmap
- Outdoor performance apparel: peaks, valleys, and green fields
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Global market review of swimwear - forecasts to 2019
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead
- Apparel Retail: Top 5 Emerging Markets Industry Guide