Mike Ashley retains House of Fraser stake as Nanjing Xinjiekou sale goes through September 2, 2014 The sale of department store House of Fraser to Chinese conglomerate Nanjing Xinjiekou has gone through today – with Sports Direct owner Mike Ashley retaining his 11 per cent stake. The deal values the business at around £480m – probably more than it would have valued at, had chairman Don McCarthy gone through with [...]
Tesco seals deal to sell House of Fraser products June 2, 2014 TESCO has struck a deal with House of Fraser to sell the department store’s products on its website, the supermarket giant said yesterday, as it seeks to stem its declining sales. After trialling the offer earlier this month, Tesco said House of Fraser has agreed to sell 2,000 products from homeware brands including Linea and [...]
House of Fraser sales hit record for new owners April 15, 2014 BOOMING online sales helped House of Fraser deliver record gross profits last year, the department group said yesterday in the wake of its acquisition by Chinese conglomerate Sanpower. House of Fraser’s adjusted earnings rose 8.3 per cent to £60.2m in the year to 25 January while gross profits hit £430.6m – its highest ever level, [...]
Ashley fails to derail House of Fraser takeover April 7, 2014 HOUSE of Fraser’s sale to a Chinese conglomerate is set to go ahead, despite Sports Direct founder Mike Ashley’s efforts to scupper the deal, City A.M. understands. Chinese powerhouse Sanpower Group agreed to buy 89 per cent of the department store chain on Friday, in a deal valued at around £450m. Sportswear magnate Ashley has [...]
Chinese on brink of House of Fraser bid March 31, 2014 HOUSE of Fraser is on the verge of a takeover by a Chinese conglomerate, in a landmark deal valuing the retailer at £450m. Chinese powerhouse Sanpower Group, led by 49-year-old multi-millionaire Yuan Yafei, has tabled an all-cash offer to buy out the 165-year-old British department store’s diverse patchwork of shareholders and its £160m of debts. [...]
House of Fraser plans London listing after Lafayette talks end January 23, 2014 HOUSE OF Fraser is planning to float on the London Stock Exchange after talks with French rival Galeries Lafayette failed to secure a sale. A source close the negotiations, said the owners of the department store chain felt they could get a better price for the company by floating on the open market. The float [...]
House of Fraser in online drive December 10, 2013 HOUSE of Fraser has said its fast-growing online business and the launch of new technology in stores helped drive sales in the third quarter. Like-for-like sales edged up 0.8 per cent, taking like-for-like sales in the year to date up 2.5 per cent. Meanwhile online sales were up by 31 per cent. The retailer has [...]
House of Fraser weighs first quarter float amid rising markets November 10, 2013 DEPARTMENT store House of Fraser has accelerated plans for a listing on London’s stock market in the first quarter of 2014 after appointing Rothschild as advisers. The store, which posted record sales last year, is expected to hold a beauty parade of banks before Christmas to co-ordinate and run a share offering, with plans to [...]