Frasers set for further MySale bid after former chairman offloads stake Frasers Frasers is set to table another cash offer for Aussie fashion marketplace MySale after a top shareholder made an “irrevocable commitment” to offload his stake to the retail group, handing it 48 per cent control.
Ashley vs Cowgill: Has Sports Direct boss had the last laugh in retail rivalry? DECADES LONG BATTLE NEWS of Mike Ashley’s departure from Frasers also signals the end of one of retail’s most tempestuous rivalries, after JD Sports’ boss Peter Cowgill exited his own sportswear giant earlierthis year. After decades of high street tussle, the two retail titans have now both relinquished their roles behind two of the country’s largest athleisure brands. [...]
Mike Ashley to relinquish director role on Frasers’ board MIKE ASHLEY Frasers Group founder Mike Ashley will relinquish his role as a director on the Sports Direct owner’s board. Ashley will not be standing for re-election as a director at the high street giant’s Annual General Meeting, Frasers announced on Tuesday. The former CEO, who handed the reins of his retail empire over to son-in-law Michael [...]
Sports Direct owner Frasers makes re-entry into FTSE 100 September 13, 2022 Sports Direct owner Frasers has made a return to the London Stock Exchange’s FTSE 100. The retailer re-joined the blue-chip index on Tuesday, according to its new chief executive officer Michael Murray. In a LinkedIn post, the CEO said the “significant milestone reflects the strength of our strategy and the strong performance that Frasers Group [...]
Michael Murray: Frasers ‘increasing efforts’ to reach out to City investors September 12, 2022 The new boss of Frasers has pledged to repair relations between the retailer and the City. In an interview with The Financial Times, Michael Murray said the Sports Direct owner was “definitely going to be increasing its efforts” to reach out to investors. The retailer was presently recruiting for an investor relations manager, as well [...]
Frasers Group makes cash offer for Australia’s My Sale August 17, 2022 Sports Direct owner Frasers Group has made a cash offer to snag the Australian e-commerce site MySale, after becoming its largest shareholder. Mike Ashley’s retail emporium announced the offer for a 100 per cent stake in the firm on Wednesday morning, at a price of 2p per share. Frasers presently holds a 28.7 per cent [...]
Kit hits the fan: Retailers running out of England Women’s shirts ahead of Euros final July 28, 2022 Retailers are running out of England Women’s football shirts ahead of the Lionesses’ Euro final against Germany on Sunday. The official England online store, kit maker Nike’s website and a host of high street retailers had sold out of all but extra-small women’s home shirts, which are priced at £75, on Thursday. “We have seen [...]
Mike Ashley’s Frasers Group posts record profits as retailer’s revenues surge July 21, 2022 Frasers Group today posted “record” pre-tax profits after the group’s revenues grew 30.9 per cent, to heights of £4.75bn. The revenue growth saw Mike Ashley’s retail conglomerate post “record” adjusted profits before tax of £344.8m. The record results come after the firm posted pre-tax profits of just £8.5m in 2021, due to the impacts of [...]
Grant Thornton slapped with multi-million pound fine after FRC calls out ‘serious failings’ in Sports Direct audit July 18, 2022 The UK’s accounting watchdog today hit Grant Thornton with a £2.05m over “serious failings” in its audits of high-street retailer Sports Direct. The fines come after the UK’s Financial Reporting Council (FRC) said Grant Thornton had failed to properly scrutinize Sports Direct’s relationship with an unnamed delivery company and the impact the relationship would have [...]
New Sports Direct boss asserts Mike Ashley is ‘not pulling the strings’ amid of price increase warning May 5, 2022 Sports Direct’s new chief has asserted that the retailer’s former boss and his future father-in-law is “not pulling the strings.” In his first interview since stepping into Mike Ashley’s shoes as chief executive of Frasers Group, Michael Murray warned prices would likely go up. The high street titan was facing headwinds “going through the roof,” [...]