{"id":9977,"date":"2023-07-28T00:25:37","date_gmt":"2023-07-28T00:25:37","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/house-of-fraser-owner-warns-of-further-store-closures\/"},"modified":"2023-07-28T00:25:37","modified_gmt":"2023-07-28T00:25:37","slug":"house-of-fraser-owner-warns-of-further-store-closures","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/house-of-fraser-owner-warns-of-further-store-closures\/","title":{"rendered":"House of Fraser owner warns of further store closures"},"content":{"rendered":"<p> <p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/>\n<\/p>\n<div id=\"post-141339\">\n<div class=\"td-post-content tagdiv-type\">\n<div class=\"td-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"522\" class=\"entry-thumb\" src=\"https:\/\/www.retailgazette.co.uk\/wp-content\/uploads\/2023\/01\/shutterstock_720214027-696x522.jpg\" srcset=\"https:\/\/www.retailgazette.co.uk\/wp-content\/uploads\/2023\/01\/shutterstock_720214027-696x522.jpg 696w, https:\/\/www.retailgazette.co.uk\/wp-content\/uploads\/2023\/01\/shutterstock_720214027-300x225.jpg 300w, https:\/\/www.retailgazette.co.uk\/wp-content\/uploads\/2023\/01\/shutterstock_720214027-768x576.jpg 768w, https:\/\/www.retailgazette.co.uk\/wp-content\/uploads\/2023\/01\/shutterstock_720214027-560x420.jpg 560w, https:\/\/www.retailgazette.co.uk\/wp-content\/uploads\/2023\/01\/shutterstock_720214027-80x60.jpg 80w, https:\/\/www.retailgazette.co.uk\/wp-content\/uploads\/2023\/01\/shutterstock_720214027-265x198.jpg 265w, https:\/\/www.retailgazette.co.uk\/wp-content\/uploads\/2023\/01\/shutterstock_720214027.jpg 1000w\" sizes=\"auto, (max-width: 696px) 100vw, 696px\" alt=\"House of Fraser store closures\" title=\"\"\/><\/div>\n<p>More House of Fraser stores could be set to close, Frasers Group has warned.<\/p>\n<p>The retailer\u2019s chief executive Michael Murray said House of Fraser\u2019s portfolio was \u201ccontinually under review\u201d and that some outlets were still \u201ctoo big and we have to find solutions for the excess space\u201d.<\/p>\n<p>The news comes after the business has suffered numerous store closures, with Mike Ashley admitting in 2019 that buying the department store was a mistake.<\/p>\n<p>Frasers has shut down eight of the department stores over the past year so far.<\/p>\n<p>Meanwhile, the number of House of Fraser shops has plummeted from 59 to 31 since being bought out of administration in August 2018.<\/p>\n<hr\/>\n<h5 style=\"text-align: center;\"><strong>Subscribe to Retail Gazette for free<\/strong><\/h5>\n<p style=\"text-align: center;\"><span class=\"x_al\">Sign up\u00a0here\u00a0to g<\/span><span class=\"x_al\">et the latest news straight into your inbox each morning<\/span><strong><span class=\"al\">\u00a0<\/span><\/strong><\/p>\n<hr\/>\n<p>Despite Murray describing \u201cthe department store globally\u201d as \u201cbroken\u201d new Frasers stores set to launch within the next year include a revamp of an outlet in Norwich and a site in Blackpool.<\/p>\n<p>Frasers Group has seen profits almost double for the year ending April 30, as its acquisition spree paid off.<\/p>\n<p>The business pulled in adjusted pre-tax profit of \u00a3478.1m, p compared to \u00a3339.8m last year, hitting the higher end of its forecast range which sat between \u00a3450-500m.<\/p>\n<p><em><strong>Click here to sign up to Retail Gazette\u2018s free daily email newsletter<\/strong><\/em><\/p>\n<\/p><\/div>\n<footer>\n<\/footer>\n<\/div>\n<p><p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>More House of Fraser stores could be set to close, Frasers Group has warned. The retailer\u2019s chief executive Michael Murray said House of Fraser\u2019s portfolio [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8539,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-9977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/9977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/comments?post=9977"}],"version-history":[{"count":0,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/9977\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media\/8539"}],"wp:attachment":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media?parent=9977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/categories?post=9977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/tags?post=9977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}