Like-for-like sales fall marginally after difficult time for the department store sector
Department store business House of Fraser has reported a slip in sales after a slow start to the year.
Like-for-like sales, including concessions, were down 4 per cent in the six weeks since January 29. Chief executive John Coleman said: 'We have delivered solid results with growth in margins and continued control over costs enabling us to grow profits despite weaker market conditions.'
Margins in the full year to January 29 increased by 20 basis points and the retailer increased annual cost savings by£7.3 million.
Total sales for the year were£910.2 million, while like-for-like sales fell 0.6 per cent. Profit increased slightly to£28.2 million from£27 million the year before.
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