Department store set to launch first abroad website in Australia and will invest £40m in IT infrastructureHouse of Fraser has returned to profit for the first time in a decade after booking strong sales online and refinancing under its new Chinese owners.
The department store achieved pretax profits of £1.3m in the year to 30 January,compared to a £2.9m loss a year before, as sales rose 4.2% to £1.3bn. Online sales rose nearly 27% to represent nearly a fifth of the group’s total after the company improved its delivery services and website.
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Source: theguardian.com