House of Fraser bounces back

Department store group House of Fraser has reported a strong trading performance over the Christmas period. During the four weeks to 30 December, the firm saw a 7.3% rise in same-store sales compared with a year earlier.

House of Fraser, which has 60 stores across the UK, also said its profit margins were in line with expectations. The company was acquired by a consortium led by Icelandic investment group Baugur for £351.4m ($686m) in August last year. "These strong figures show that House of Fraser remains the customer's number one choice for designer brands," said House of Fraser in a statement to the BBC. Baugur now owns a number of UK High Street names, including the Iceland supermarkets, jeweller Mappin & Webb, and toy store Hamleys.