New store openings have boosted sales at House of Fraser by 2.7 per cent in the 39 weeks to October 25.
The department store retailer said the sales uplift reflected the opening of new stores in Belfast, High Wycombe and Bristol. The retailer revealed like-for-like sales were “slightly down” over the same period.
House of Fraser’s trading update came as the retailer, which is owned by a consortium including Icelandic investor Baugur — filed full-year accounts to January 2008 at Companies House.
The figures show sales fell 1.1 per cent in the first full year since the consortium acquired the retailer in November 2006. In the year to January 26, EBITDA soared 30 per cent to£68.1 million. Pre-tax profits were not disclosed, but the company paid down£100 million in debt during the same period.
Chief executive John King told The Daily Telegraph: “There is little doubt that the retail industry is facing extremely challenging times, but we have ticked all the boxes in a very tough climate.”
House of Fraser will open another 70,000 sq ft store at the Westfield London shopping centre, which opened today.