Frasers Group news and archive

Frasers Group influence: Hugo Boss cuts dividends, initiates buyback

Fashion group Hugo Boss is cutting its direct distributions to shareholders to the legal minimum. Shareholders are to receive four cents per share for the past year, the company announced in Metzingen on Monday. For the previous year, they had received 1.40 euros per share. Meanwhile, Hugo Boss intends to buy back its own shares worth up to 200...

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Business

Frasers Group secures almost 6 percent stake in Puma

Investors snapped up shares in Adidas and Puma on Thursday. With share price gains of 4.1 percent and 6.9 percent, the two sportswear manufacturers led the list of gainers on the Dax and MDax respectively. A transaction by British billionaire and investor Michael Ashley provided a boost for Puma. Specifically, it involves the sale of financial...

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Business|Updated

Hugo Boss defends supervisory chair after Frasers Group pulls backing

The chairman of the supervisory board at Hugo Boss has lost the backing of the fashion group’s largest shareholder, Frasers Group, intensifying tensions at the top of the German luxury apparel company. In a mandatory announcement published late Friday, Frasers Group said it no longer supports Stephan Sturm in his role as supervisory board chair....

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Frasers Group acquires Hervis stores in Hungary and Romania

Austrian sporting goods retailer Hervis, owned by the Spar Group, is withdrawing from two markets. Hervis Sport- und Modegesellschaft mbH has concluded an agreement with Frasers Group (European Holdings) Limited, part of the UK retail group Frasers Group Plc, regarding the sale of the companies Hervis Hungary (Hervis Sport és Divatkereskedelmi...

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Business

Frasers Group updates on investment in Hugo Boss

Frasers Group Plc (FRAS.L ZVX.F), a British retail, sport and intellectual property group, Friday issued an update regarding its investment in German luxury fashion brand Hugo Boss AG (HUGSF.PK). Frasers' current investment in Hugo Boss now comprises 2.71 million shares of common stock, representing 3.9 percent of Hugo Boss's total share capital...

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Frasers Group CEO Mike Ashley reportedly ‘set to step down’

Frasers Group boss Mike Ashley is reportedly set to step down from the helm of the retail empire he founded almost 40 years ago. Ashley is expected to hand the reins over to Michael Murray, who is Frasers Group’s head of elevation and who is also engaged to Ashley’s daughter Anna, The Telegraph reports. It is thought Ashley would then become...

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Frasers Group 'does not intend to bid for Hugo Boss'

Mike Ashley’s Frasers Group says it does not plan to make a bid for German label Hugo Boss following rumours of a potential takeover in the works. In a brief statement on Thursday, the British company said: “Frasers Group wishes to make a market clarification that Frasers Group does not intend to bid for Hugo Boss AG.” Shares in Hugo Boss jumped...

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Retail

Frasers Group opens first Frasers store in Wolverhampton

Frasers Group has opened its first Frasers store in Wolverhampton as part of a larger multi-brand shopping destination. Located in the Mander Centre, in a former Debenhams unit, the 34,000 square foot Frasers store offers over 120 brands spanning beauty, fashion, lifestyle, kids and home brands, and also has a restaurant for visitors. The new...

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Business

Frasers Group sells entire stake in French Connection

Mike Ashley’s Frasers Group has revealed it sold its entire 24.93 percent stake in French Connection amid news the retailer has been approached by two potential buyers. French Connection confirmed on Friday that it had received one approach from Spotlight Brands in conjunction with Gordon Brothers International, and another from Go Global Retail...

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Retail

Frasers Group to close iconic Jenners store in Edinburgh

Frasers Group is to close its iconic 180-year old Jenners department store on Princes Street in Edinburgh, resulting in around 200 redundancies. The store will close on 3 May, with new renovation plans for the space thought to include a hotel, cafés and rooftop bar and restaurant. It comes after Frasers failed to agree on a deal to extend its...

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Frasers Group increases Hugo Boss stake to 15.2 percent

Mike Ashley’s Frasers Group has upped its stake in German label Hugo Boss in its latest move to reposition itself in a more upmarket segment. The group announced Wednesday that it’s increased its stake in the label to 15.2 percent through stocks and derivatives, up from the 5.1 percent stake it acquired back in June 2020. Frasers Group, which...

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Business

Frasers Group acquires fashion retailer Psyche

Mike Ashley’s Frasers Group has acquired the stores and online business of fashion retailer Psyche for an undisclosed sum. Psyche owner Steve Cochrane, who has run the business for the past 38 years and will continue as CEO following the takeover, said the deal would secure the future of his company and its 58 workers. “After 38 years as an...