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House of Fraser plans major upgrade of its Leeds store


Mango brand will be a feature of upgraded outlet

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Published Date:
20 August 2008
HOUSE of Fraser today said it planned to make a significant investment in its Leeds store as it outlined its plans to aim higher.
The group said it was ready to roll out a host of brands across its revamped department stores, despite facing "difficult" trading conditions.

Its Leeds store, in Briggate, will welcome Mango as part of the move.

The chain - owned by Icelandic
investment group Baugur - is now aiming at the higher end of the market and is on track to spend £150m on an overhaul of its stores by the end of this year.

Major brands set for launch include Lauren - the new womenswear line by Ralph Lauren - while the chain has also attracted other leading designers such as Anya Hindmarch, whose I'm Not A Plastic Bag eco-bag was a global sell-out last year.

New private label offerings such as Criminal - a fashion brand aimed at young male shoppers - will be launched exclusively at its 61 stores next month.

In a trading update for the six months to July 26, House of Fraser said total sales had grown 2.9 per cent, although like-for-like comparatives were not given.

Underlying earnings increased by more than 30 per cent to around £16m over the period.

But the group added sales for its refurbished stores were eight per cent ahead of the rest of the chain, while sales at two new stores in Belfast and High Wycombe were 15 per cent higher than management hopes.

Chairman Don McCarthy said: "I think John King, our chief executive, and his management team have done a great job in repositioning House of Fraser in what can only be described as difficult trading times.

"We are pleased with our performance over the six months."

House of Fraser, which has 6,500 staff, is also planning makeovers at stores including Leeds, Glasgow, Oxford Street (London), Manchester, Bluewater, Reading, Dundrum in Dublin and Jenners in Edinburgh.

These stores will also see new brand introductions including Versace and Hugo Boss in Oxford Street, and Mango in Leeds.

House of Fraser began life in 1941 as the drapery business Fraser, Sons & Co in Glasgow but was bought by Baugur for £351m in November 2006.

Other well-known names in the Icelandic firm's retail portfolio include Iceland and Hamleys, while it owns sizeable stakes in companies including clothing chains Moss Bros and French Connection and department store group Debenhams.
ENDS



The full article contains 415 words and appears in n/a newspaper.
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  • Last Updated: 21 August 2008 8:00 AM
  • Source: n/a
  • Location: Leeds
 
 
  

 
 


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