House of Fraser news and archive

House of Fraser sales drop 60 percent in run up to Christmas

Struggling UK retailer House of Fraser has suffered a difficult Christmas trading period, with sales dropping year-on-year in the 12 weeks up to December 18, according to Kantar Worldpanel figures reported by the Telegraph. In August, Sports Direct owner Mike Ashley bought House of Fraser for 90 million pounds when the company went into...

Report

House of Fraser turnaround remains challenging

The turnaround of high street department store chain House of Fraser is facing significant challenge. Parent company Sports Direct chief Mike Ashley stated the company is facing a multitude of challenges to turn the ailing store group into the "Harrods of the high street." Ashley this week unveiled Sports Direct's half-yearly results which in...

News

Paul Smith and House of Fraser back new retail leadership degree

Charity Retail Trust has worked with 12 UK retailers including Paul Smith, Jigsaw, House of Fraser and JD Sports to develop a new Retail Leader Apprenticeship programme which will begin next year. The first in a series of supported degrees for retail, the level 6 programme will welcome at least 400 retail employees, and is the first initiative...

Management

House of Fraser owner says high street could be dead by 2030

London - House of Fraser owner Mike Ashley spoke to parliament this week to give evidence about the UK's ailing high streets. Ashley, who faced criticism for his company's takeover of struggling retailer House of Fraser, told MPs: “It’s not my fault the high street is dying. We have to realise the High Street won't make 2030 - it's not going to...

Report

Three House of Fraser stores to close

While Mike Ashley’s Sports Direct, the new owner of the troubled department store chain House of Fraser is putting in efforts to save the latter's stores from closing, The Guardian report says that three stores based in Edinburgh, Hull and Swindon would be closed following disagreement over rental terms with the landlords. Ashley is said to be...

Report

Sports Direct confirms EBITDA target for the current fiscal

House of Fraser has confirmed ahead of today's AGM that trading is in line with the company’s expectations of achieving between a 5 percent and 15 percent improvement in underlying EBITDA for the current financial year, excluding the acquisition of House of Fraser. Commenting on the update, Sports Direct Chief Executive Mike Ashley said in a...

Report

House of Fraser website expected to reopen next week

Department store chain House of Fraser, which was acquired by Mike Ashley’s Sports Direct immediately after it went into administration, is expected to reopen its website next week, reports The Guardian. The company had taken down its website on August 15 and then due to delays in delivering online orders, decided to cancel all orders and refund...

ManagementFeatured

Mulberry, first victim of HoF’s collapse ripple effect

The British upscale fashion and accessories brand has warned that House of Fraser (HoF) collapse will have a negative impact on its finances. Mulberry is one of the many HoF’s creditors that won’t be able to get back the money they lent to the failed department store chain. Earlier this month Mulberry Group PLC (LON:MUL) issued a profit warning...

Report

House of Fraser’s differences with XPO Logistics remain unresolved

According to GMB union representing workers at two XPO Logistics centres in Milton Keynes and Wellingborough, the company’s differences with the department store chain House of Fraser are yet to reach a compromise, reports Motor Transport. Last week, a Drapers report said that the company’s dispute with its warehouse operator was resolved....

Report

After Oxford Street, House of Fraser’s Telford store saved from closure

After Sports Direct's Mike Ashley saved House of Fraser’s flagship store on Oxford Street, London from closure, media reports said that its second store at Telford Centre in Shropshire would also remain open. Additionally, Drapers has revealed that the company’s dispute with warehouse operator XPO Logistics has been resolved and its two...

ResearchPress Release

DRASTIC CHANGES NEEDED AT HOUSE OF FRASER TO ENTICE SHOPPERS BACK, SAYS GLOBAL DATA

To give House of Fraser the best chance of survival, Sports Direct and its owner Mike Ashley must make drastic changes to both its product proposition and store environment to entice shoppers back says GlobalData, a leading data and analytics company. This will require significant investment – something which the chain has been starved of in...

Report

House of Fraser's Oxford Street flagship saved from closure

House of Fraser’s flagship store on Oxford Street, London has been saved from closure, reports The Guardian. The report quoted James Keany from CBRE, the real estate services and investment firm which is advising Sports Direct on House of Fraser’s property-related matters, saying: "This deal only happened because all parties realised it was...