Frasers Group sells US retailers Bob’s Stores and Eastern Mountain Sports

Frasers Group has sold US retailers Bob's Stores and Eastern Mountain Sports (EMS) to GoDigital Media Group for 70 million dollars.

The British fashion group acquired the two discount sportswear retailers out of bankruptcy in 2017.

In a brief statement on Friday, the group said: “The Bob’s and EMS store estate does not include any of the new elevated stores which are core to the Fraser Group elevation strategy.

“The disposal of these non-core businesses allows Frasers group to have an even greater focus on delivering its elevation strategy by focusing on store experience, digital and product.”

Frasers Group, whose portfolio includes Flannels, Sports Direct, House of Fraser, and Jack Wills, has been working to reposition itself as a more upmarket group in recent years.

It has previously said a “key strategic priority for Frasers Group is the elevation of our retail proposition and building stronger relationships with premium third-party brands”.

The group has bought shares in upmarket German brand Hugo Boss and luxury British handbag label Mulberry in recent years.