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The Latest Breaking News from Frasers

Frasers lowers goal for new bonus plan after boss misses £100m payout target

The Sports Direct owner revealed proposals for a new five-year bonus scheme with a lowered share price target, from £15 to £12.

Evening Standard

Frasers names former audit watchdog chief as new chairman

Sir Jon Thompson will succeed David Daly, who steps down next month after eight years in the role.

Evening Standard

JD Sports sales slump in UK as fragile consumer confidence concerns retailers

Leisurewear firm cuts prices online amid tough market, especially in footwear for women and children

The Guardian - UK

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Boohoo founder should be investigated over debt collection, says Mike Ashley

Mr Ashley’s Frasers Group – which owns an almost 29% stake in Boohoo – said it had ‘very serious concerns’ over reports about Mahmud Kamani’s conduct.

Evening Standard

Frasers Group sales fall amid ‘challenging’ luxury market and retreat from gaming

Pre-tax profits fall 24% despite rise in Sports Direct sales, driven by closures of House of Fraser and Game stores

The Guardian - UK

Frasers ‘working hard’ to offset cost hit as sales improve

The Sports Direct owner reported a 2.8% rise in underlying pre-tax profits to £560.2 million for the year to April 27.

Evening Standard

Frasers pulls out of bidding for Revolution Beauty after mulling takeover

Frasers, the retail giant which owns Sports Direct and Flannels, said it ‘now confirms that it does not intend to make an offer’ to buy the business.

Evening Standard

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Frasers Group considers takeover deal for Revolution Beauty

Mike Ashley’s retail giant ‘is one of a number of parties conducting due diligence’ on the business.

Evening Standard

Boohoo to rebrand as Debenhams despite Frasers Group’s vote to block it

Shareholder meeting turned into latest episode in battle between fashion retailer and Mike Ashley’s retail empire

The Guardian - UK

What next for Mike Ashley’s patchwork retail empire?

The tycoon’s Frasers Group faces a tricky next chapter after decades of relentless deal-making

The Guardian - UK

Frasers Group says two-thirds of retail staff are still on zero-hours contracts

MPs examining plans for legislation were told 11,500 staff on the contracts, which do not guarantee weekly shifts

The Guardian - UK

Boohoo accuses Frasers of bid to ‘destabilise’ firm at second investor vote

Frasers has called for Mahmud Kamani to be axed from Boohoo’s board at a general meeting set for January 21.

Evening Standard

Hornby cheers festive trading boost as it attracts new customers

Hornby said sales lifted 7% in the quarter to December 31, with 23% revenue growth for December alone.

Evening Standard

Boohoo sells London office in Soho for £49.5m to pay off debts

The online fashion firm told shareholders it had sold the site on Great Pulteney Street in Soho to property fund Global Holdings UK

Evening Standard

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The Independent UK

Boohoo sells London office for £49.5m to pay off debts

The online fashion firm told shareholders it had sold the site on Great Pulteney Street in Soho to property fund Global Holdings UK.

Evening Standard

Wall Street stocks rally at end of choppy week for global markets

It was a mixed session for global stocks as investors continue to digest key economic releases and central bank signals.

The Guardian - UK

Boohoo shareholders vote to block Mike Ashley from joining board

Chair hails ‘resounding vote of confidence’ as investors reject Sports Direct founder and his associate Mike Lennon

Evening Standard

Boohoo says Frasers Group can have seat on board – but not Mike Ashley

Boohoo chair Tim Morris said Mr Ashley is ‘not appropriate’ for a board seat because of ‘obvious conflict points’.

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The Guardian - UK

Mike Ashley has the right critique of Boohoo. But he doesn’t belong on its board

The online retailer needs a shake-up – but the Sports Direct supremo is far from an unconflicted party

The Guardian - UK

Boohoo wins influential adviser’s support in battle with Mike Ashley

ISS reportedly tells fast-fashion firm that Frasers Group approach is ‘superficial’ and ‘offers no plans for change’

Evening Standard

FTSE 100 treads water as Frasers shares tumble after profit downgrade

The blue-chip index lifted 13.57 points, or 0.16%, to close at 8,349.38.

Evening Standard

Sports Direct owner Frasers blames Budget for profit warning after consumer confidence slump

Frasers expects costs to increase by £50 million in the next financial year as a result of Budget measures

The Independent UK

Frasers cuts profit outlook amid ‘weaker’ shopper confidence around Budget

It came as the Mike Ashley-founded firm revealed a slump in sales for the past half-year, and lower profits

Evening Standard

Warhammer maker earns place in FTSE 100 while Frasers drops off top index

The latest reshuffle of the London Stock Exchange has seen Nottingham-based Games Workshop join the UK’s biggest share index.

Evening Standard

Police investigate claims that Boohoo bosses were stalked – reports

The claims come amid an escalating boardroom row between Boohoo and Mike Ashley’s Frasers Group, which holds a 28% stake in the fast fashion firm.

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