Bank Deal Will Put Profits On the Cards for Hof

Evening Standard - London › September 29, 2004

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Summary

HOUSE of Fraser has struck a groundbreaking deal with Barclaycard to earn profits from its customer store card for the first time since Mohammed Fayed floated the retailer in 1994 .

The deal is likely to see a significant re-rating for the retailer in the City, given the extra cash set to flow into the business once its existing agreement with GE Consumer Finance expires in two years' time.

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Extract

Bank Deal Will Put Profits On the Cards for Hof

It comes amid fresh signs that trading is holding up a...

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