House of Fraser has reported an 8% rise in sales for its second quarter with a surge in sales of own-label collections fuelling the growth.
According to the Sunday Times, the second quarter to the end of June saw the department store chain improve on the 3% growth seen in the first three months of the year.
In its first quarter, to the end of March, sales of House of Fraser’s 16 own brands rose by 30%. There was also a 107% jump in online sales. Gross profits were up £2.4m to £81.5m
Chief executive John King said: “Customers are more and more brand oriented now. These developments, along with having secured our long-term financing through our recent bond issue, mean we have a solid platform to strengthen our position.”
Last month House of Fraser closed a £250m bond issue to help provide the group with long-term financing.
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