Skip to main content

Mike Ashley’s Frasers Group set for “upbeat” update after reopening stores

// Frasers Group to unveil an “upbeat” trading update next week
// There are hopes its sales will have rebounded strongly after the reopening of high street stores
// In April, the Mike Ashley-led firm was cautious in its outlook despite the reopening of retailers across the UK

Frasers Group is expected to unveil an “upbeat” trading update next week amid hopes its sales will have rebounded strongly after the reopening of high street stores.

In April, the Mike Ashley-led retail giant was cautious in its outlook despite the reopening of retailers across the UK.

The company, which owns Sports Direct, House of Fraser, Jack Wills, Game, Flannels and Evans Cycles among others, warned it could take a £200 million hit from the impact of pandemic restrictions following the third national lockdown.

READ MORE:

However, shareholders are reportedly hopeful of a strong recovery message from the group, when it delivers its full-year trading figures on August 5.

In May, Ashley showed his confidence in Frasers Group’s post-Covid future by snapping up £60 million more shares in the company.

The firm reports significant online sales through Sports Direct but continues to operate a large and sprawling retail portfolio which will have been significantly impacted by restrictions.

Analysts have highlighted strong growth in the athleisure sector over the past year amid a jump in fitness activity during the pandemic.

Analysts will also be keeping an eye out on how the firm’s overall fashion sales fared, after the ONS states a surge in clothing sales for the wider retail sector in April before it slumped in May and June.

with PA Wires

Click here to sign up to Retail Gazette’s free daily email newsletter

The post Mike Ashley’s Frasers Group set for “upbeat” update after reopening stores appeared first on Retail Gazette.



from Retail Gazette https://ift.tt/3BW6PtC
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

Eagle Labs launches impirica CBD brand

ST. PETERSBURG, Fla. — Eagle Labs has launched impirica, a new brand of CBD intended to eliminate consumer fear, and increase confidence, in trying the exciting new cannabidiol category. Michael Law Although most Americans have now heard about CBD, many are very confused and concerned about product quality. This is inhibiting trial in the category and holding back conversion into sales. In fact, a 2017 study by Johns Hopkins University found that two out of three CBD products on the shelf did not contain the amount of CBD reflected on the label. Furthermore, in 2018 and 2019, the FDA sent notices to a substantial number of CBD manufacturers advising them of serious concerns about product quality or egregious medical claims. The impirica brand looks different than most CBD brands — the brand name itself connotes testing and trust, says Eagle Labs chief commercial officer Michael Law. “It doesn’t use the traditional category colors of browns and greens, and you won’t find a hemp...
68 comments
Read more

Coronavirus Recovery: Canadian Small Businesses Must Focus on Easing Employee, Customer Fears

By M. Tina Dacin and Laura Rees A small business has been  given the green light to reopen amid the COVID-19 pandemic . What does it need to consider for employees and customers? Small business owners are reorganizing physical space to account for continued distancing requirements and rethinking supply chains to deliver products and services in new ways to meet changing demand patterns. But they must not forget the hearts and minds of employees and customers. That doesn’t mean replacing a focus on the bottom line, but it helps address the need for a new set of expectations and ways of communicating in terms of product or service offerings, delivery methods and real-time feedback. Based on our expertise in organizational behaviour and past research we’ve conducted, we provide a set of recommendations to help small businesses thrive in our new COVID-19 economy by looking after the hearts and minds of the people most important to businesses — employees and customers. Fear, Anxi...
1 comment
Read more

World's 1st Pizza Subscription Service Launches in Toronto

general assembly subscription user opening delivery box of pizza. photo: general assembly pizza By Mario Toneguzzi Toronto-based General Assembly Pizza has launched what it describes as the world’s first pizza subscription service as it also plans to aggressively expand its product offering in the near future by opening a new concept in the market. "Since opening our doors in 2017, we have pushed for the best guest-experience possible — that's why our dough is 100 percent naturally leavened, that's why we have a purpose-built 400-square-foot pick-up and delivery area, and that's why we’ve launched a direct-to-consumer subscription-based ecommerce platform,” said Founder & CEO Ali Khan Lalani. “In 2020, providing the best guest experience means General Assembly Pizza has to be more than a restaurant. I'm proud to say that after almost six months of planning, many roadblocks, and countless pivots — all while maintaining our day-to-day restaurant operatio...
1 comment
Read more