Department store House of Fraser has reported a rise in third-quarter sales and profits helped by a jump in online revenues.
House of Fraser’s like-for-likes excluding VAT rose 4.6% in the 13 weeks to October 31, while online sales soared 27.7%.
The department store group, owned by Chinese conglomerate Sanpower, reported adjusted EBITDA of £2m, up from £1.4m on last year’s third quarter. For the year to date, EBITDA rose 12% to £11.2m.
In its half year the retailer had reported profits up 7%.
House of Fraser today flagged “continued positive performance in bricks-and-mortar stores, with strong double-digit growth from recently refurbished stores including Bath, Lincoln and Huddersfield”.
The retailer said there was growth across all of its branded products, concession and own-label brands, and boosted its online sales with improved click-and-collect areas in stores.
House of Fraser chief executive Nigel Oddy said: “We are pleased with the continued sales and profit growth for the quarter and year to date, underlining the success of our multichannel proposition and our premium branded offering.
“Both stores and online have delivered positive sales and margin performance, building on the growth seen in these channels over recent years.”
He added that the start of its fourth quarter had seen “further sales and margin improvement”. Oddy said: “We remain confident of delivering further growth in the full year and thereafter.”
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