House of fraser financial news
Here are some recent financial news articles and updates about House of Fraser:
Recent Financial News:
- House of Fraser's parent company, Sports Direct, reports £240m loss (The Guardian, February 2020)
Sports Direct, the parent company of House of Fraser, reported a pre-tax loss of £240m for the year ending April 2019. The company attributed the loss to the costs of integrating House of Fraser, which it acquired in 2018.
- House of Fraser's sales decline by 10% (Retail Week, January 2020)
House of Fraser's sales declined by 10% in the 12 months to January 2020, according to data from the British Retail Consortium. The department store chain has been struggling to compete with online retailers and other physical stores.
- House of Fraser to close 31 stores (The Telegraph, November 2019)
House of Fraser announced plans to close 31 stores across the UK, putting around 1,000 jobs at risk. The closures are part of the company's efforts to reduce costs and improve profitability.
Historical Financial Performance:
- House of Fraser's financial performance in 2017 (House of Fraser's Annual Report, 2017)
In 2017, House of Fraser reported a pre-tax loss of £121.8m on revenue of £1.3bn. The company's operating profit was £14.4m, down from £34.4m in 2016.
- House of Fraser's financial performance in 2016 (House of Fraser's Annual Report, 2016)
In 2016, House of Fraser reported a pre-tax profit of £34.4m on revenue of £1.4bn. The company's operating profit was £44.1m, up from £34.1m in 2015.
Recent Developments:
- House of Fraser's new owner, Sports Direct, plans to invest £100m in the business (The Times, August 2018)
Sports Direct, which acquired House of Fraser in August 2018, plans to invest £100m in the business to improve its stores and online platform.
- House of Fraser's CEO, Alex Williamson, steps down (The Telegraph, July 2019)
Alex Williamson, the CEO of House of Fraser, stepped down from his role in July 2019. He was replaced by Andrew Murphy, who was previously the company's chief operating officer.
I hope this information is helpful!