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House of Fraser full-year sales rise 4.1%

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Like-for-like sales at department store group House of Fraser increased 4.1 per cent year-on-year in the 12 months to January 29th 2011.

Own brands such as 1970s-style fashion line Biba helped drive growth at the retailer, with sales of own lines up 50 per cent on last year.

House of Fraser announced in January that the number of brands available online had increased by 50 per cent, and this greater selection of goods offered via the web pushed multichannel trading up 130 per cent compared to 2009/10.

EBITDA rose from £59.4 million to £85.7 million year-on-year, while net financial debt was reduced from £239.4 million to £161 million.

Don McCarthy, Chairman of House of Fraser, said: “We have delivered another strong trading performance, despite the tough consumer environment.

“We will continue to focus on building our market position as the leading premium department store group in UK and Ireland, introducing and developing more exciting brands and accelerating our multichannel activity.”

The group’s trading has also been encouraging during the first 13 weeks of this financial year, with LFL trading including VAT up three per cent compared to the equivalent period in 2010.

Today’s statement revealed that strong own brand sales and significant multichannel growth have once again been features of House of Fraser’s success.

McCarthy added: “With our strong management team and clear strategy, we believe we are well positioned to continue to grow the business in the future.”

Published on Wednesday 18 May by Editorial Assistant

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