In the half year to Oct. 27, the unit made a loss on an underlying Ebitda basis of 5.6 million pounds, compared with a deficit of 29 million pounds in the year-earlier period. Tony Shiret at Whitman Howard estimates the loss at about 10 million pounds, compared with 31.5 million pounds previously. The company now expects full-year underlying Ebitda of between 356.4 million pounds and 390.3 million pounds. While much attention has focused on House of Fraser, it and Flannels are still a small part of the group. The strategy of taking advantage of others’ misery by acquiring brands to sell in his stores is a sensible one.

Source: Washington Post December 16, 2019 13:11 UTC