House of Fraser sales flat as it warns of challenging conditions ahead

House of Fraser became the latest retailer to warn of challenging high street conditions ahead as it recorded flat sales for the first half of the year.

The department store chain said total sales in the six months to July 30 were unchanged at £573.5 million.

The news comes just weeks after John Lewis and Next recorded a decline in sales and profits in H1, both citing challenging market conditions.

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Nigel Oddy, chief executive of House of Fraser, said: “We have, like many of our peers, experienced an extremely volatile trading environment since the final quarter of fiscal year 2016, and we expect this uncertain economic situation to remain for some time.”

On the flip side, online sales continued to grow at House of Fraser, increasing by 17.8% on a like-for-like basis, and now represent 20.7% of total sales.

And gross profit managed to increase £2.5 million o £207.2 million on the previous year.



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