THE RETAIL BULLETIN - The home of retail news
20 years serving the retail industry
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
Retail HR 2022
THE Retail Conference 2022
Retail Women In Leadership 2022
Digital Transformation Strategy 2022 Part 2
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Frasers Group posts uplift in sales and profit

Frasers Group saw its half year revenue increase by 23.6% to £2.34 billion which it attributed to the reopening of stores after lockdowns and a continuing… View Article

GENERAL MERCHANDISE

Frasers Group posts uplift in sales and profit

Frasers Group saw its half year revenue increase by 23.6% to £2.34 billion which it attributed to the reopening of stores after lockdowns and a continuing strong online performance.

In the six months to 24 October, the owner of Sports Direct, Flannels and House of Fraser saw its adjusted pre-tax profit rise to £186.8 million from £115.5 million a year earlier.

Frasers Group chairman David Daly said: “The board is very pleased with the overall trading performance of the Frasers Group during the first half of the year and I want to extend my thanks on behalf of the board to our hardworking and dedicated teams across the group. As noted in our outlook statement, both our bricks and mortar and online businesses have continued to perform well since reopening from the last lockdown in the UK in March 2021.”

Looking ahead, the company said it is still facing the shadow of uncertainty cast by the ongoing Covid-19 pandemic, supply chain risks and macroeconomic factors contributing to a likely cost of living squeeze, which could impact consumer spending in the new year.

However, Frasers said it still believes it can achieve an adjusted pre-tax profit of between £300 million to £350 million by the end of the financial year if there are no significant UK Covid-19 lockdowns in the period.

 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

THE NEXT EVENT

See all upcoming events

LATEST VIDEO

UKG LifeWork ALL: Register your place now to hear more. RETAIL HR 21 Sept LONDON
UKG LifeWork ALL: Register your place now to hear more. RETAIL HR 21 Sept LONDON

Watch video >