House of Fraser’s weak finances could be easing on reports that its potential new majority owner has a more than £1bn investment war chest and that the £15m cash infusion from its current owners could be added to.
House of Fraser’s Chinese owner is planning to sell its majority stake in the under-performing department store chain to another Chinese entity, it confirmed on Tuesday. But it will keep a large holding in the retailer.
Estee Lauder Cos Inc reported higher-than-expected quarterly profit and sales on Friday on strong demand for Too Faced and Becca products and customisable gifts, and the company raised its 2018 full-year EPS forecast.
House of Fraser has signed a deal with a property-tech startup that will see the UK department stores giant hosting pop-up concessions in stores for small retail brands and expanding its experiential offer on the way.
House of Fraser delivered lower sales and wider losses Wednesday but was upbeat and said its womenswear revamp is paying off while lower e-sales were caused by an online re-platform that is now yielding good results.
Style Group Brands is urgently seeking backers as its risks an administration filing. The company, formed from the merger of Jacques Vert and Irisa, owns classic womenswear brands including Dash, Eastex and Precis.