House of Fraser to expand
Department store to invest £150m into UK operation following increase in sales.
By Christina Williams
25 September 2014
Department store House of Fraser will embark upon an ambitious expansion plan for the UK following its recent buy-out by Chinese owners Sanpower. The retailer, which has 59 stores in the UK and Ireland, will invest £150m into its UK operation over the next four years, focusing on its online platform and store revamps.
The news comes following the announcement that online sales increased by 29 per cent during the first half of this year. The rise in online sales contributed to an overall increase of 4.2 per cent in like-for-like sales during the same period.
“We are very pleased with our performance over the last six months, which has been driven by the continued success of our leading multi-channel offering and the strength of our premium branded proposition,” says John King, the retailer’s chief executive. “As a business, we are committing £150m of investment in the UK over the next four years to further improve the shopping experience for our customers, through better store environments and developments to our online platform.”
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