{"id":5418,"date":"2018-12-13T10:34:20","date_gmt":"2018-12-13T10:34:20","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/house-of-fraser-revival-challenging\/"},"modified":"2018-12-13T10:34:20","modified_gmt":"2018-12-13T10:34:20","slug":"house-of-fraser-revival-challenging","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/house-of-fraser-revival-challenging\/","title":{"rendered":"House of Fraser revival &#8216;challenging&#8217;"},"content":{"rendered":"\n<div property=\"articleBody\">\n<figure class=\"media-landscape no-caption full-width lead\"><span class=\"image-and-copyright-container\"><\/p>\n<p>                <img loading=\"lazy\" decoding=\"async\" class=\"js-image-replace\" alt=\"House of Fraser store\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/330E\/production\/_102907031_houseoffraser_getty.jpg\" width=\"976\" height=\"549\"\/><span class=\"off-screen\">Image copyright<\/span><br \/>\n                 <span class=\"story-image-copyright\">Getty Images<\/span><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p class=\"story-body__introduction\">Sports Direct boss Mike Ashley has said his firm faces &#8220;significant challenges&#8221; in turning around the House of Fraser store chain, which it bought in August.<\/p>\n<p>Mr Ashley said he believed that its previous management team &#8220;traded the business whilst it was insolvent for a long time&#8221;.<\/p>\n<p>However, he repeated his intention to turn House of Fraser into &#8220;the Harrods of the High Street&#8221;.<\/p>\n<p>Mr Ashley was speaking as he unveiled Sports Direct&#8217;s half-yearly results.<\/p>\n<p>In the 26 weeks to 28 October, it saw a 62% rise in pre-tax profits year-on-year to \u00a374.4m.<\/p>\n<p>However, underlying profits saw a 27% slump to \u00a364.4m, reflecting the costs of acquiring House of Fraser.<\/p>\n<p>&#8220;Outside of the House of Fraser acquisition, the Sports Direct Group has had another successful period,&#8221; said Mr Ashley.<\/p>\n<p>He added that excluding the department store chain, Sports Direct expected to be within its forecast for growth of between 5% to 15% by the end of the financial year.<\/p>\n<p>&#8220;Including House of Fraser, we expect to be behind last year&#8217;s result.&#8221;<\/p>\n<p>Sports Direct non-executive chairman David Daly said: &#8220;The fact that Sports Direct is responsible for saving thousands of jobs at House of Fraser, at a time when the High Street is under immense pressure, is an achievement of which everybody in the Group should be extremely proud.&#8221;<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.co.uk\/news\/business-46550174\">Source<\/a> by <a href=\"\">[author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image copyright Getty Images Sports Direct boss Mike Ashley has said his firm faces &#8220;significant challenges&#8221; in turning around the House of Fraser store chain, which it bought in August. Mr Ashley said he believed that its previous management team &#8220;traded the business whilst it was insolvent for a long time&#8221;. However, he repeated his &hellip; <\/p>\n","protected":false},"author":0,"featured_media":5419,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5418","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/5418","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=5418"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/5418\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/5419"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=5418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=5418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=5418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}