Fraser to create 1,000 jobs

House of Fraser is to create 1,000 new jobs as it expands over the next four years, the department store chain announced today.

House of Fraser is to create 1,000 new jobs as it expands over the next four years, the department store chain announced today.

New stores are to be opened in the City of London, Norwich, and High Wycombe. It has also bought the Bentalls store in Bristol for £15.6 million.

The chain said that in the six months to July 29, like-for-like sales rose 4.9 per cent to £365 million, compared with £351 million for the corresponding period in 1999.

The chief executive John Coleman said: "We have driven significant sales and market share growth in the first half, building on our position as Britain's leading retailer of designer brands."

But tightening retail margins are affecting the profit-to-turnover ratio.