
There’s speculation that there could be more store closures ahead for Frasers Group as the giant retail operation has announced a major impairment charge against its stores as a result of lockdowns.
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There’s speculation that there could be more store closures ahead for Frasers Group as the giant retail operation has announced a major impairment charge against its stores as a result of lockdowns.
It’s big and it’s playing a big part in Bracknell’s revitalisation. Frasers Group is to become an anchor destination at the £30 million redevelopment of The Lexicon mall in the Berkshire town with a 40,000 sq ft store.
Frasers said on Tuesday it has increased its stake in German luxury fashion house Hugo Boss to 15.2% through stocks and derivatives, part of Ashley's ongoing drive to take the British sportswear retailer upmarket.
Frasers has become the first major retail name to withdraw its earnings guidance following the introduction of stricter Covid controls in parts of England as the virus spreads faster than ever.
Frasers Group is continuing to focus on physical retail space as it take over a key soon-to-be empty Debenhams store and opens a next-gen Sports Direct flagship that also integrates other brands into its giant space.
Frasers Group saw lower sales in its first half, as would be expected given that most of its stores were closed for part of the period. But the fall was relatively small and the company’s profits rose.
Mike Ashley's Frasers Group confirmed on Monday that it’s interested in buying Debenhams even though the auction for the Department store chain has already ended and the chain is expected to close completely by March.
Analysts believe that up to 60 Debenhams stores could still close next year despite JD Sports reportedly being in exclusive talks to acquire the entire business.
JD sports is believed to be in exclusive talks about buying Debenhams with the company reportedly interested in acquiring the entire business pre-Christmas.
Frasers Group is continuing its deep dive into the luxury sector. On Thursday it announced that it has increased its already-large stake in leather goods company Mulberry and could make an offer for the brand.