House of Fraser sees ‘record’ Christmas sales
Demand for fashion and beauty products boosts figures
By CFOWorld.co.uk staff | CFO UK | Published 11:24, 07 January 13
House of Fraser, a privately owned UK retail group, saw its like-for-like sales rise 6.3 percent over the six weeks to 5 January when compared with the corresponding period a year ago.
In a statement on Monday, the retailer, which operates 60 stores in the UK and Ireland, attributed the ‘record’ sales figure to a demand for fashion and beauty products providing a boost to underlying sales.
It also said like-for-like sales, excluding VAT, for the first 10 weeks of the fourth quarter were up 5.2 percent.
Commenting on the figures, chairman Don McCarthy said, “There is no doubt that 2012 was a challenging year in retail and it remains difficult to predict when economic conditions and consumer sentiment will improve.”
“With the strong sales performance in the period and a close focus on margins and operational efficiencies, we expect to report growth in full-year earnings in line with previous indications," he added.
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