All Evans Cycles articles
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Prospect Analysis
Evans Cycles (Overview)
Evans Cycles is a cycling specialist that is part of the Frasers Group (formerly Sports Direct). Mike Ashley’s acquisitive group bought it out of administration in October 2018. Alongside its stores, Evans Cycles has a well-established online business that accounts for over a third of sales.
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Prospect Analysis
Evans Cycles (Financials)
Evans Cycles generated total sales of £44.6m over the seven months to end-April 2019, its first period as part of the Frasers Group, but remained seriously loss-making, posting a pre-tax loss of some £9.3m.
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Prospect Analysis
Evans Cycles (People)
There was a high level of management churn following the spell in administration and ownership change in 2018. Amy Copeland has been head of ecommerce since the end of 2019, while Richard Twinn is head of IT.
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Prospect Analysis
Ecommerce at Evans Cycles
Evans Cycles has a strong multichannel focus and invested in ecommerce early on, rolling out services such as click and collect ahead of the curve. Enactor’s OMS is being phased into Evans Cycles in terms of an in-store order management app and back-end ordering engine.
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Prospect Analysis
Stores at Evans Cycles
At the time of the Fraser Group acquisition, it said its plan was to halve the 60-strong store network to return the business to profitability. However, the closure programme has been less rapid than expected, with Evans Cycles continuing to trade from 50 stores across the UK as of April 2020.
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Prospect Analysis
Customer and marketing at Evans Cycles
Evans Cycles aims to provide expert advice, support and after-sales service, as well as offering a bike range that covers a broad range of price points. As such, the retailer attracts a broad audience of sports enthusiasts, casual cyclists and families, as well as commuters
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News
Frasers Group’s Evans Cycles to axe 300 jobs in cost-cutting drive
The Mike Ashley-owned Evans Cycles is cutting 300 jobs and moving the remainder of its staff to zero-hours contracts in a bid to cut costs.
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Frasers Group set to open Leicester megastore
Frasers Group has announced plans to open a flagship store in Leicester’s Fosse Park which will combine its Flannels, Sports Direct, Evans Cycles and Game fascias.
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Mike Ashley’s Frasers Group refuses to pay rents
Mike Ashley’s Frasers Group has told landlords it will not pay rents until it is “fully able to freely trade as a business” again.
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Mike Ashley praises staff as Frasers Group readies to ‘potentially’ reopen stores
Frasers Group, formerly known as Sports Direct International, has said that it will pay 100% of salaries for the majority of its employees in May.
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Sports Direct profits rise as it shrugs off Belgian tax bill
Sports Direct has posted a jump in half-year profits and insisted the shock tax bill it received from Belgian authorities in the summer “will not lead to material liabilities”.
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Analysis
The many faces of Mike Ashley: Deal maker, drinker, disruptor
“It’s like he’s playing Pokémon or something – trying to catch ‘em all.”
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Analysis
Analysis: What is Mike Ashley's master plan?
Hark back to June 2016 and Sports Direct founder Mike Ashley was hauled before a parliamentary hearing about the working conditions at the retailer’s Shirebrook warehouse.
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News
Evans Cycles stores to be shuttered despite profitability
Evans Cycles’ new owner Mike Ashley has decided to close half of its shops despite administrators advising that “almost all” of its stores make money.
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Mike Ashley deals take toll of thousands of retail jobs
Mike Ashley’s takeovers of well-known retailers have cost 6,000 retail jobs and more than £1bn in unpaid bills.
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Sports Direct acquires Evans Cycles in pre-pack deal
Sports Direct has snapped up Evans Cycles in a pre-pack administration deal, which will see it axe half of the retailer’s stores.
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Halfords pulls out of race to buy Evans Cycles
Halfords has pulled out of the race to buy Evans Cycles, casting fresh doubt on the chain’s future.
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Halfords eyes Evans bid as it maps out new strategy
Halfords has reportedly made an indicative offer to buy rival Evans Cycles as its new boss Graham Stapleton reveals his vision for the business.
