When retail mogul Mike Ashley added House of Fraser to his portfolio in 2018, he spoke about converting the chain into the “Harrods of the high street”. And two years later, his vision is starting to take shape.
The gradual retreat of retailers from physical spaces is continuing with the latest slate of store closures coming from Jack Wills, which is now owned by Frasers Group. One central London store is on the closure list.
Perfumery retailer The Fragrance Shop said its Christmas trading was positive, boosted by its omnichannel positioning in a market that was tough. But its annual profits dropped due to the market’s discount frenzy.
Aspinal of London may have hailed higher sales in its latest trading year, but those sales didn't bring any benefits to its bottom line and the company made a wider loss in the 12 months to March 2019.
Sports Direct had mixed news on Monday with acquisitions boosting sales but plenty of negative numbers when bought-in business are factored out. But HoF is showing 'green shoots' and Flannels is improving.