Frasers Group sells Bob’s Stores and Eastern Mountain Sports
Sports Direct owner Frasers Group has sold its US retail businesses trading as Bob’s Stores and Eastern Mountain Sports to GoDigital Media Group for $70 million.
In a statement, Frasers said the funds will go into the group’s general working capital pool.
The group purchased the brands for $101 million in 2017 and at the time said the move would provide it with a footprint in US bricks-and-mortar retail and a platform from which to grow online sales in the country.
Frasers placed the Bob’s Stores retail business under strategic review in August 2020 after Nike said it would stop distributing to Bob’s Stores in March the following year.
The group now says both the Bob’s and EMS store estate does not fit with its new “elevation strategy.
It added: “The board of FG is grateful to staff in Bobs and EMS for their loyal service and wishes these businesses every success for the future.”
Email this article to a friend
You need to be logged in to use this feature.
Please log in here