Company
Frasers Group PLC
LON:SPD
Frasers Group plc, formerly Sports Direct International plc, is a British retailing group. Established in 1982 by Mike Ashley, the company is the United Kingdom's largest sports-goods retailer and operates roughly 670 stores worldwide.
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Frasers the 'Dick's sporting goods of Europe' says Shore Capital
Roughly 14 acquisitions in the last five years have resulted in Frasers more than doubling its earnings per share
Sports Direct owner Frasers Group looks to keep up momentum after founder Ashley steps back
Frasers Group will update on its progress towards a 30% profit growth target when it reports half year results on 8 December
Mike Ashley’s Frasers Group completes acquisition of 250-year old Savile Row tailor
Frasers Group has completed its acquisition of bespoke London tailor Gieves & Hawkes
Frasers wants suitmaker Gieves & Hawkes on its roster of brands
Under its current form, Gieves & Hawkes has been around since 1974, although the respective Gieves and Hawkes tailoring labels date as far back as the 1700s
Christmas looks bleak for businesses, according to data
Footfall figures in retail also make for worrying reading
Frasers should be fairly resilient in the consumer downturn, says RBC
RBC's analysts also feel the group has an opportunity to become one of a handful of strong omnichannel players as the sector consolidates
Frasers increases stake in Hugo Boss
The FTSE-100 company said it continues to see opportunities that strengthen its brand proposition
Frasers holds 59.85% of MySale
Closing date for the mandatory offer, which was made last month, is 1pm on 1 November 2022
Frasers should be resilient during consumer downturn, say RBC
RBC reduced its profit before tax forecasts by 3% to 8% due to lower sales and margin assumptions for UK sports retail, partly offset by higher margin assumptions for Flannels
Frasers Group's chief executive's pay faces second AGM test
Shareholders will be voting on Wednesday to confirm the changes in the scheme
Retail buying, but who is putting their hands in their pockets?
A fashion retailer on a buying spree, an investment firm, and a car dealership owner are all dipping their toe into retail
Frasers makes final mandatory offer for MySale
The final offer from the retailer is 2p per share and will not be increased further
Frasers Group says Mike Ashley to step down from its board after AGM
Ashley is providing the retail group will £100mln of additional funding
Could Joules be next on Frasers' shopping list
Mike Ashley has been knocked back by MySale, but the list of distressed retailers continues to grow
Hardware & electrical equipment
MySale rejects offer from Mike Ashley's Frasers Group
The directors recommended shareholders reject the offer, saying it "does not reflect an adequate value or premium"
Mike Ashley's Frasers Group in frame for Saville Row tailor Gieves & Hawkes
Jack Wills, Evans Cycles and Agent Provocateur and Missguided have all been snapped up by Frasers
Frasers Group buys fashion retailer I Saw It First
Frasers' acquisition spree continues with the deal for the online women's fashion retailer
Frasers, the shining light of fashion retail (no, really)
Even excellent shopkeepers are at the perils of a lack of consumer confidence and rising inflation
Frasers Group shares surge on bumper results and profit guidance
The Sports Direct-owner is forecasting profits of £450mln-£500mln for the new financial year
Frasers Group bans ‘unproductive’ home working
The British retailing group, which owns Sports Direct, Flannels, House of Fraser and Jack Wills, banned its flexible Friday policy and has asked staff to work every day
Mike Ashley's Frasers Group consolidates Australia expansion with MySale deal
The deal will allow Sports Direct and House of Fraser to offload end of season lines down under
Frasers Group backed for 'resilient performance' by house broker
The preliminary results are expected be released on 21 July
Frasers Group ups investment in Hugo Boss to 4.9%
Frasers first took a stake in the clothing designer in 2020
Frasers Group rises as it announces share buyback
The Mike Ashley retail juggernaut said the share buyback programme will run for a month
Frasers snaps up Missguided assets for £20mln
The online fashion retailer will operate as a standalone business within the Frasers Group
Frasers Group, B&M and Accol tipped among ‘best’ consumer stocks for the downturn
Liberum analysts reckon "there is serious upside to be had given how bombed out valuations have become.”
Frasers Group could build strong presence with Flannels but elsewhere faces challenges
"We see upside potential to Frasers' store target of c.100 stores," RBS Capital Markets said
Frasers buys Studio Retail out of administration in £26.8mln deal
Frasers, which is Studio's biggest shareholder with a stake of almost 29%, said the deal had saved 1,500 jobs
Southampton FC close to being sold to Serbian media tycoon in £100mln deal
The deal may come too early to be examined under the proposed rules put forward by former sports minister Tracey Crouch
Frasers launches £70mln share buyback
The share price rose 0.5% to 736p in Monday morning’s early trading
Frasers Group shares react positively to interim results; one broker thinks there is much further for the stock to go
In a note to clients, Liberum said: “Frasers’ strategic foundations are now firmly in place driving yet another impressive set of results, which are standout considering the current environment.
Frasers Group says new boss could earn £100mln if share price more than doubles before October 2025
Michael Murray, the CEO designate, is currently "head of elevation", which makes it sound like he is in charge of the lifts
Mike Ashley, a maverick who ruffles feathers and puts noses out of joint
Whatever you say about Mike Ashley, he has retail nous (and he isn't Philip Green)
Frasers Group says Mike Ashley considering relinquishing the reins as profits plunge
Future son-in-law Michael Murray's stint as "head of elevation" looks like resulting in his elevation to the role of CEO although Mike Ashley is expected to remain the power behind the throne
Mike Ashley to step back from CEO job at Frasers - report
Future son-in-law Michael Murray is being tipped to become the new CEO
Frasers Group making 'huge push' into vacant shop space around Europe, UK
This comes with the company expecting to have written down the value of its own assets by over £320mln over 2020 and 2021
Frasers Group to make bigger Coronavirus impairments as further restrictions are almost certain
"We note the continuing Government and Government advisor pronouncements regarding 'third waves' and normality being 'some way off', meaning further restrictions are in our view almost certain"
Frasers Group throws business rates temper tantrum
Frasers Group and many retailers would have expected suitable relief until structural reform is implemented, Mike Ashley's retail group said in a statement issued in response to the Budget
Frasers Group expects £100m non-cash impairment on assets amid COVID-19 crisis
The figure comes on top of the £125mln impairments reported in December’s interim results
Arcadia administrators sell Evans brand for £23mln
The collapsed group's administrators said there has been significant interest on other brands as well
Frasers Group scraps guidance as new south-east lockdown closes shops
The government ordered all non-essential shops to close on Sunday after a sharp rise in infections caused by a new variant of coronavirus
Frasers Group confirms interest to snap up Arcadia as it remains in talks to buy Debenhams
Chief financial officer Chris Wootton said “the process has only just started so there's a long way to go as to ascertain what - if anything - we look at with that"
Frasers flies as boss Mike Ashley tightens guidance and says brand relationships improving
Mike Ashley's group expects to achieve a 20% to 30% improvement in underlying earnings (EBITDA) in the year to next April
Mike Ashley's Frasers Group says it is looking to rescue foundering Debenhams
Frasers has been in talks with Debenhams' owners recently but was not willing to pay the £300mln demanded
Arcadia's fate intertwined with Debenhams and other retail rivalries
Arcadia group is the biggest concession owner at struggling department store group Debenhams
Mike Ashley’s Frasers offers loan to billionaire Sir Philip Green's Arcadia Group
The owner of the Sports Direct and Flannels chain has provided draft terms for a loan of up to £50mln
Frasers Group ups stake in Mulberry Group to over a third
The Sports Direct and House of Fraser owner has until December 17 to announce whether it would like to buy the whole company
Frasers Group trades positively as fresh Debenhams move is eyed
It could be the latest addition to the 'house of brands'.
Frasers unveils £100mln bonus plan as Mike Ashley faces shareholder rebellion
Shareholder advisor Pirc called for votes against the CEO and chairman after Sports Direct store workers chain were asked to work while on furlough during lockdown
Sony’s Playstation 5 pricing threatens fresh blow to video game retailers
A cheaper 'Digital Edition' console will increasingly Sony's position as the point-of-sale for Playstation games - which is yet more bad news for the likes of GAME.
Mike vs Nike: Is Sports Direct shortage reason to panic for Ashley's Frasers?
An innocent trip to buy PE kit for his kids led to an epiphany for Peel Hunt's analyst
Frasers buys Dave Whelan Sports for £37mln
The former Sports Direct is paying £37mln plus up to a further £6.9mln for stock
As Frasers shares rally, UK high street braces for more store closures
A number of House of Fraser stores could close, how many may depend upon ongoing rent negotiations.
Mike Ashley's Frasers plans more 'digital elevation' investment after profits hit by coronavirus lockdown
The retailer reported a 20% fall in profit before tax, with underlying profits up 5%
Archive
Frasers Group’s delayed financials set for city spotlight on Thursday
Frasers Group and Antofagasta are among the notable names in the City diary for Thursday.
Frasers Group rumoured to be in for Dave Whelan’s DW Sports
It would mark the latest piece of high street consolidation by Frasers and bring back together a number of former JJB stores.
Mike Ashley's Frasers delays reporting of results again
Blame has been laid on the final disclosures for new IFRS 16 accounting rules that are “still being completed and reviewed”
Mike Ashley’s Frasers refused access to government coronavirus financing facility
In a positive note, the group said it has now reached a commercial settlement with the Belgian tax authorities over its €674mln bill
Frasers Group boss Mike Ashley ‘deeply apologetic’ over coronavirus actions
The owner of Sports Direct has faced backlash in the past week after requesting that its outlets stay open as 'essential' stores during the outbreak
Frasers makes U-turn and closes Sports Direct stores
Bike shops such as Evans are also allowed to remain open
Frasers Group drops guidance for current financial year, will not achieve 5 to 15% EBITDA growth
The Mike Ashley-owned business - formerly known as Sports Direct - warned its board "expects that COVID-19 will cause significant disruption to its business"
Mike Ashley's Frasers Group joins call for business rates reform
Frasers said some of its stores pay up to four times more in rates than they should.
Mike Ashley’s Frasers clutches stake in handbag maker Mulberry
Mulberry shares have lost three quarters of their value over the past two years
Frasers Group “least popular stock” in FTSE 250 index, says AJ Bell
The retailer comes with 67% ‘sell’ ratings, but experts urge to take recommendations with caution
2020 or bust: brands we lost in the past decade
The 2010s have been a wild ride for companies, and some of them just couldn't take the strain amid geopolitical upheaval and huge structural change
As Sports Direct becomes Frasers are Ashley's plans pantomime or golden goose?
The sports retailer has been pushing a new strategy in recent years to “elevate” the stores and offer a few more upmarket brands
Sports Direct reports "green shoots" at House of Fraser
The retailer's revenue declined 6.4% to in the 26 weeks to 27 October on a constant currency basis as it pursued its "elevation strategy"
Archive
BoE decision, stress tests, Sports Direct due in coming week
Also on the company news agenda in the coming week are updates from Bunzl, Petrofac, Hunting, Trainline and IntegraFin
Sports Direct proposes name change to Frasers Group
The FTSE 250 retail giant, owned by billionaire tycoon Mike Ashley, will allow shareholders to vote on the name change at 9.30am on 13 December
Goals Soccer asks SFO to investigate fraud, "too late" says Ashley
Mike Ashley, boss of Sports Direct which owns a 19% stake in Goals, said it was “a deliberate case of closing the stable door well after the horse has bolted”
Sports Direct drops Goals bid, Ashley accused bosses of “skulduggery”
The group announced after the market close Tuesday that it was not going to follow through with its 5p per share offer for Goals, in which it owns a 18.9% stake
Sports Direct bemoans “false sense of job insecurity” for HoF workers
The retailer said it is “totally incorrect to assume that there will be large numbers of [House of Fraser] store closures in the new year”
Sports Direct confirms 5p per share approach to Goals Soccer Centres
Sports Direct is Goal Soccer’s largest shareholder with a near 19% stake.
Sports Direct's shareholders vote in large numbers against Mike Ashley's re-election as a director
However, given that Ashley owns 62% of the company, as expected, he was still overwhelmingly backed to continue in the role
Sports Direct lodges takeover bid for Links of London
The future of the jewellery chain has been in doubt since its Greek owner, Folli Follie, became embroiled in an accounting scandal in 2018
Sports Direct investors urged to vote against Mike Ashley’s re-election at September AGM
Pirc wants shareholders to vote against the re-appointment of CEO Ashley, chairman David Daly, and three other directors at next month’s AGM
Sports Direct’s auditor fiasco is pushing UK company law into uncharted waters
The resignation of its long-serving auditor Grant Thornton and a reluctance of the 'Big Four' to take the job has left Mike Ashley's empire in a precarious position
Sports Direct left in the lurch as long-serving auditor quits
Grant Thornton will step down from its role as auditor next month, and none of the other big accounting firms have shown an interest in taking over
Sports Direct continues takeover of UK high street, with £12.75mln cash purchase of clothing retailer Jack Wills
Jack Wills, which was put up for sale since July by private equity owners Bluegem Capital Partners, currently employs 1,800 people and has 110 of its own stores throughout the UK.
Sports Direct reports "horror show" results; investors spooked by Belgian tax bill and House of Fraser warning
The retailer said it feared problems at House of Fraser were “nothing short of terminal in nature” as the chain reported an operating loss of £54.6m, worse than analysts had expected
Recent profit warnings put a £200mln dent in ASOS founder’s net worth
Nick Robertson’s stake in the online fashion retailer has plunged after two recent profit warnings, and he’s not the only retail mogul to have suffered in recent years
Archive
Easyjet profit warning and Royal Mail's turnaround update eyed
Along with easyJet, there are also company updates due from Royal Mail and Anglo American, plus UK retail sales data
Sports Direct warns profit drop could be bigger than feared as it delays annual results by up to five weeks
Chief executive Mike Ashley took a £90mln punt on House of Fraser last August hoping to turn it into the ‘Harrods of the high street, but there has been little evidence so far to suggest the transformation is on track
Archive
easyJet tipped to warn on profits amid challenging short-haul airlines market
It looks set to be a busy week of corporate announcements and UK economic data
Sports Direct secures over 50% of shares in takeover of GAME Digital
The FTSE 250 retailer, which already owns around 38.49% of GAME, said as of 1pm on 8 July it had received acceptances amounting to 15.82% of the company’s total share capital
Debenhams' landlord M&G drops lawsuit over CVA, urges Sports Direct to do the same
Debenhams said it has resolves its dispute with M&G following “positive, constructive discussions”.
GAME Digital is a high-profile casualty of a revolution in the video game markets
The high street retailer has borne the brunt of an increasing swing from physical disks to digital video game sales
GAME Digital directors back Sports Direct takeover offer
The takeover offer by Mike Ashley's retail empire, originally announced in June, values the video game retailer at around £52mln
Sports Direct to vote against reappointment of Goals Soccer board amid accounting spat
The retailer, which has a 18.9% stake in Goals, said the move had been prompted by a “perceived lack of transparency” and “loss of confidence” in the board after management rejected a request to appoint corporate investigator Kroll to carry
Goals Soccer rejects Sports Direct’s request for another investigation into tax cock-up
Goals has already brought in experts to look at how it ended up owing £12mln to the taxman, but Sports Direct wanted it to consent to another, independent investigation
Mulberry swings to annual loss as it suffers hit from House of Fraser collapse
“Looking ahead, we anticipate that international and digital sales will continue to grow whilst UK retail trading conditions are expected to remain uncertain,” said chief executive Thierry Andretta.
Quiz scraps dividend after House of Fraser collapse and discounting hit profits
The retailer's full-year pre-tax profit fell to £0.2mln, down from £8.5mln a year earlier as the fashion retailer took a £0.4mln bad debt provision after House of Fraser entered administration
Sports Direct launches £52mln takeover offer for GAME Digital
Sports Direct offered 30p per share for GAME, representing a 27.4% premium to the closing price of 23.55p on Tuesday
Findel plans name change after lifting full-year profits
Online value retailer says a trial collaboration with Sports Direct has not been that successful but talks about other projects are ongoing
Archive
Mid-caps to dominate corporate news on Wednesday as FTSE reshuffle day arrives
Budget airline easyJet is expected to exit the FTSE 100 index after the latest quarterly review, while JD Sports is seen taking its place among the blue-chips
WH Smith ranked as worst UK retailer in national survey - once again
Consumers described WH Smith stores as “cramped, messy and dirty” with “unhelpful staff”.
Goals Soccer issues profit warning as accounting fiasco drags on
The five-a-side pitch operator said in an update that after “extensive” financial forecasting work it expected its fiscal year ending December 31 to be “materially below” prior expectations
Sports Direct sells 'gulag' Shirebrook warehouse for £120mln
The FTSE 250 sportswear retailer, run by infamous retail tycoon Mike Ashley, said the deal was expected to complete by 21 June, after which it would sign a 15-year lease on the site
Debenhams lenders back restructuring plan, leaving 50 stores facing the axe
The group is also trying to reduce rents across the remaining estate by as much as 50% on some of its stores