By Petah Marian
House of Fraser has recorded a jump in sales over the first half, with a spike in online sales growth.
The retailer said gross transaction value reached £542 million, with like-for-like sales increasing 4.2%. Online revenue grew 29% representing 14.2% of sales.
House brands sales increased 10.7% over the half, while gross profit increased 13.4%.
“We are very pleased with our performance over the last six months, which has been driven by the continued success of our leading multichannel offering and the strength of our premium branded proposition,” said CEO John King.
“Earlier this month, Nanjing Cenbest completed the acquisition of House of Fraser, providing us with a strong platform from which to expand our business in international markets and to further develop and invest in our multichannel offering, our store portfolio, growing our House Brands and introducing exciting premium brands.
"As a business, we are committing £150 million of investment in the UK over the next four years to further improve the shopping experience for our customers, through better store environments and developments to our online platform. We are excited by our future growth prospects both in the UK and abroad.”