HoF to buy Jenners

March 2005
Cabinet Maker;3/25/2005, Issue 5431, p8
Trade Publication
The article reports that House of Fraser PLC (HoF) has agreed to buy 157 year-old Scottish department store group Jenners, paying £46.1 million, plus a pension contribution of £3.4 million. HoF said the deal would strengthen its position in central Scotland--it already has branches in Edinburgh and Glasgow--and provide it with the opportunity to lift Jenners' profits. Jenners has bucked the retail trend in recent weeks, with like for like sales increasing by 2.3% in the past six weeks and made a pre-tax profit of £2.7 million from sales off 49.1 million in the year to the January 30, 2005.


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