House of Fraser has reported its best Christmas while John Lewis also credited stronger online business for an increase in festive sales.
The two department store chains’ fortunes were in stark contrast to those of rival Debenhams, which has issued a profits warning and confirmed it had lost its chief financial officer in the wake of poor sales.
House of Fraser, which trades from 61 stores in Britain and Ireland, said like-for-like sales excluding VAT for the three weeks to December 28 rose 7.3%, with online sales up 57.7%.
Like-for-like sales excluding VAT for the first nine weeks of its fourth quarter were up 4.3%, the firm said, adding it expected to finish the year with lower net debt, which stood at £157.2m for the year to January 26 2013.
, House of Fraser
, John Lewis