House of Fraser retail turnover in the United Kingdom (UK) 2011-2017
British department store group House of Fraser had a tough time in 2018. In June 2018, House of Fraser announced an overwhelming number of store closures across the UK, following which the retailer went into administration and was eventually bought out by Sports Direct. Looking at the company’s stalling gross profit numbers, perhaps the new state of things for House of Fraser does not come as a surprise.
House of Fraser under Sports Direct
Between 2014 and 2018, House of Fraser was owned by the Chinese department store group Nanjing Xinjiekou, until Sports Direct stepped in and acquired the retailer in August 2018. With the House of Fraser buy-out, financial performance of the brand from August 2018 to April 2019 reflected as a revenue of over 330 million British pounds.
HoF’s shrinking market share
House of Fraser has long been in business on the high street like its competitors Debenhams and Marks & Spencer. In a retail atmosphere where e-commerce poses serious challenges to high street retailers today, long-standing department stores including House of Fraser face shrinking shares in the UK apparel market.
House of Fraser under Sports Direct
Between 2014 and 2018, House of Fraser was owned by the Chinese department store group Nanjing Xinjiekou, until Sports Direct stepped in and acquired the retailer in August 2018. With the House of Fraser buy-out, financial performance of the brand from August 2018 to April 2019 reflected as a revenue of over 330 million British pounds.
HoF’s shrinking market share
House of Fraser has long been in business on the high street like its competitors Debenhams and Marks & Spencer. In a retail atmosphere where e-commerce poses serious challenges to high street retailers today, long-standing department stores including House of Fraser face shrinking shares in the UK apparel market.
