Frasers Group news and archive

Frasers Group seeks evidence from Morgan Stanley boss over margin call dispute

UK fashion conglomerate Frasers Group has confirmed that it has requested for New York court to secure evidence from the chief executive of Morgan Stanley, James Gorman, for a lawsuit it issued over a one billion dollar margin call. Frasers initially filed the related lawsuit against the bank in London’s High Court back in 2021, stating that the...

Business

PETA reports wins: Frasers Group bans angora, VF cuts cashmere

In what is being hailed as a victory for animal rights, the People for Ethical Treatment of Animals (PETA) has announced that two notable fashion conglomerates have agreed to cut animal products from their supply chain. Frasers Group, the owner of Sports Direct, Missguided and House of Fraser and for which PETA is a shareholder, is understood to...

Business

Frasers Group in talks to sell Missguided to Shein, report says

Frasers Group is reportedly looking to sell its Missguided label less than 18 months after buying the business out of insolvency. The group, which owns Sports Direct, House of Fraser, and Jack Wills, among others, is in “detailed negotiations” with fast fashion retailer Shein over a potential sale of Missguided, according to a Sky News report....

Business

Frasers Group takes its Boohoo stake to 10 percent

Just hours after once again increasing its holding on Boohoo, Frasers Group has continued to up its stake in the fast fashion group, taking its shares of the company to 10 percent. The British retail giant had first snapped up a stake in Boohoo during June 2023, when it had also secured a 9 percent stake in electrical giant Currys as part of its...

Business

Frasers Group once again ups stake in Boohoo Group

Continuing on in the path to secure larger stakes in its rivals, Frasers Group has once again upped its stake in fast fashion conglomerate Boohoo Group. In its most recent increase, Frasers has taken its shares from 7.8 percent to 9.1 percent. Frasers first snapped up a stake in Boohoo during June 2023, when it had also secured a 9 percent stake...

Business

Frasers Group ups Asos stake to nearly 20 percent

Fashion and retail giant Frasers Group has once again increased its stake in e-commerce retailer Asos, upping its holding of the company to 20 percent. This comes just weeks after Mike Ashley’s group had made a similarly significant step up for the firm, recently taking its stake from 10.5 percent to 16.8 percent. Frasers has been quietly upping...

Retail

House of Fraser to shutter two more locations

Frasers Group has reportedly confirmed that two of its House of Fraser locations are set to close in the coming month, one of which is to do so next week. The retailer is preparing to shutter its Solihull space on August 28, while its store in Guildford is also planning to close its doors on September 30. According to various media reports,...

Business

Frasers Group ups stake in Asos to nearly 17 percent

British retail giant Frasers Group has increased its stake in fashion e-tailer Asos to nearly 17 percent. In a filing to The Stock Market on Monday, the group said it has increased its holdings of shares in Asos from 10.5 percent to 16.8 percent. It comes as Asos’ share price continues to drop as the retailer faces falling demand. In its most...

Business

Job losses feared ahead of Frasers’ potential Studio Retail merger

Employees of Studio Retail are understood to be anticipating job losses ahead of a potential merger between the company and two others owned by Mike Ashley’s Frasers Group. It is believed concerns had been sparked by a letter from Paul Kendrick, the chief executive of Studio Retail, which Frasers had rescued from administration in a one pound...

Business

Frasers Group ups stake in Boohoo, again

Just days after its last boost, Frasers Group has once again upped its stake in fast fashion conglomerate Boohoo, increasing its holding from 6.78 percent to just over 7.8 percent. Frasers first snapped up a stake in the Manchester-headquartered company in mid-June, securing a 5 percent holding that made it one of the group’s major shareholders....

BusinessFeatured

Frasers Group reports ‘record performance’ as revenues increase 15.8 percent

Retail conglomerate Frasers Group has reported its results for the fiscal year 2023, for which it stated that it had experienced “record performance” as group revenue reached 5,565.2 million pounds, a 15.8 percent increase on the previous year. The group cited acquisitions as one of its main drivers behind the increase, after it went on a...

Business

Frasers Group increases stake in Boohoo

Frasers Group has upped its holding of shares in Boohoo a month after snapping up an initial stake in the fast fashion giant. In an announcement to the stock market Wednesday, Frasers Group said it increased its stake in the rival group to 6.78 percent, up from the 5 percent it snapped up in June. Boohoo has seen its share price fall sharply in...