House of Fraser outlook boosted by own brands

Department store group House of Fraser said this week its own brands are performing well and adjusted its financial outlook to for the quarter from 9.2 million to 10 million pounds.

The retailer, which was acquired by China’s Sanpower Group’s Nanjing Cenbest division in April, also said the “opening weeks" of Q4 were up 7.2 percent on-year.

HoF added that its stores also continued to perform well compared with last year, with flagships in Edinburgh, London and Glasgow delivering the strongest performances.

Chief executive John King said: “We are very pleased with our performance year to date, which has been driven by the continued success of our leading multichannel offering and the strength of our premium branded proposition.

“We remain confident of delivering further growth for the year and thereafter. We are also pleased with the progress being achieved with our new Chinese owners and growth opportunities this new relationship will bring in the UK and abroad."