Frasers Group, the parent company of House of Fraser, Sports Direct and Jack Wills, unveiled plans to expand into the Irish market. The company said it will open three Flannels boutiques in Ireland by winter this year and spring 2023. The stores will be opened in Dublin, Cork and Blanchardstown, with Dublin the flagship store in Ireland. It will...
14 Jan 2022
Frasers Group has reportedly tabled an offer for Footasylum after JD Sports was ordered by the UK’s Competition and Markets Authority (CMA) to sell the company earlier this year. The CMA told JD Sports in November it would have to sell Footasylum’s 65 stores after ruling the merger between the two sportswear retailers would “leave shoppers worse...
29 Dec 2021
Frasers Group has announced plans to buy back up to 70 million pounds of its own shares. The programme, which will run until April, aims to strengthen the British fashion group’s share price, the company said Monday. The announcement comes just a week after Frasers Group revealed it had secured fresh funding to support its expansion. The group,...
13 Dec 2021
Frasers Group revenue was up 23.6 percent to 2,339.8 million pounds in the first half, largely due to the strong reopening of stores after lockdowns, continuing strong online performance, and the comparative period being impacted by lockdowns as a result of Covid-19. The company said that its performance continues to be strong in both - the...
9 Dec 2021
Frasers Group has refinanced 930 million pounds in bank facilities as part of its ongoing elevation strategy. Jointly led by HSBC UK and backed by several other lenders, the deal refinances 913.5 million pounds of existing loan facilities and adds 16.5 million pounds in fresh funding. It is the largest bank funding package to be secured in the...
3 Dec 2021
Frasers Group shareholders have approved a bonus scheme proposed by the company that could see incoming CEO Michael Murray receive a 100 million pound share bonus. Murray will bag the payout if the group’s shares top 15 pounds for a consecutive 30-day period within the next four years - they’re currently trading at just under 7 pounds. Just over...
30 Sep 2021
Frasers Group has opened the doors of a new 35,000 square foot Flannels flagship store in Leicester’s Fosse Park as part of its ongoing elevation strategy. The store spans three floors and houses the group’s roster of beauty and fashion brands, with a food and beverage offering coming later this autumn. It will also house the new Flannel’s...
27 Aug 2021
Frasers Group has reported a drop in full-year revenue and pre-tax profit as store closures during the pandemic took their toll on the business. The group, which owns brands Sports Direct, Flannels, House of Fraser, and Jack Wills, reported Thursday an 8.4 percent drop in revenue to 3.63 billion pounds in the year to April 25. UK Sports Retail...
5 Aug 2021
Frasers Group has confirmed that Mike Ashley is to step down from the role of CEO of the company he founded almost 40 years ago. He will be succeeded by Michael Murray, Frasers Group’s head of elevation and the fiance of Ashley’s daughter Anna. Murray is expected to take on the new position on May 1 2022. Ashley will remain on the board as an...
Frasers Group boss Mike Ashley is reportedly set to step down from the helm of the retail empire he founded almost 40 years ago. Ashley is expected to hand the reins over to Michael Murray, who is Frasers Group’s head of elevation and who is also engaged to Ashley’s daughter Anna, The Telegraph reports. It is thought Ashley would then become...
4 Aug 2021
Frasers Group has announced the opening of a new 35,000 square foot multi-brand store in Leicester’s Fosse Park. The new store is anchored by a Sports Direct and also includes streetwear retailer USC, a bike department by Evans Cycles and an esports gaming arena by Game. The company’s head of elevation Michael Murray said the new opening was a...
28 Jun 2021
Sports Direct has reopened its Oxford Street flagship store following a 10 million pound refurbishment. The 50,000 square foot space, which was first opened in 2014, has been given “a modern, innovative, and sleek” new look and comes as part of Frasers Group’s wider elevation strategy. The store features curated activation spaces and interactive...
22 Jun 2021
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