Frasers profits soar as elevation strategy pays off
Frasers has reported strong revenue and profit growth across its portfolio in a “particularly significant year for sports retail” driven by the group’s elevation strategy.
In a trading update for the 53 weeks ending April, 2023, Frasers, which owns retailers including Sports Direct, Flannels and House of Fraser, posted a 96.9% jump in reported profit before tax to £660.7m.
Group revenue increased by 15.8% to £5.5bn, attributed to the “strong trading performance from the core Sports Direct business driven by the continuing success of the elevation strategy”.
Subscription content
Please sign in now if you have a subscription or are already registered with us.
Register for free to continue reading
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
- Two free article views per calendar month on Retail-Week.com
- Detailed analysis of current trends and events
- Exclusive newsletters
- In-depth reports, videos, interviews and much more
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few moments before your account is updated.