High-end retailer nets record sales
Published 10/01/2011 | 09:55
House of Fraser, the UK department store chain owned by Highland Group Holdings Ltd, said sales at stores open for at least a year rose 8.5pc in the five weeks to January 8 as internet-based revenue surged.
House of Fraser, which has an outlet at the Dundrum Town Centre in south Dublin, saw record Christmas trading as sales through its website increased 120pc and revenue from own-brand items advanced 50pc, the Glasgow-based company said in a statement. The retailer will continue to expand in 2011.
UK retailers are facing pressure in 2011 from an increase in the VAT rate to 20pc from 17.5pc and government spending cuts that may crimp consumer confidence.
House of Fraser's "sales growth was in spite of the severe weather conditions experienced across much of the country, which impacted trade in the lead-up to Christmas", the company said in the statement.
"Online sales continue from strength to strength," the statement from the clothing retailer added.