"Sales for Frasers dropped by 7.4% to 4.7 billion, with a 24% decline in pre-tax profits to 379.5 million, partly due to the closure of stores."
"The premium lifestyle division saw sales slump nearly 15%, reflecting challenges within the luxury market, despite early signs of improvement in overall consumer trends."
Sales at Frasers fell by 7.4% to 4.7 billion, with pre-tax profits down 24% to 379.5 million, attributed to the closure of House of Fraser and Game stores. The premium lifestyle division's sales dropped nearly 15%, impacted by a challenging luxury market and reduced spending by aspirational shoppers facing economic constraints. However, early signs of improvement are appearing after a difficult period. Adjusted profits rose 2.8% to 560 million, and the company expects similar underlying profits for the coming year amid ongoing cost pressures.
Read at www.theguardian.com
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