DIRS.INFO The most relevant business & tech news

☆ Diversification into premier luxury has been key for resilience, Frasers Group CEO says
▼ + stars: | 2024-07-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDiversification into premier luxury has been key for resilience, Frasers Group CEO saysMichael Murray, CEO of Frasers Group, says diversification has been key for the firm to remain resilient, "no matter what the economic environment is like."

Persons: Michael Murray Organizations: Frasers

☆ Benko's complex web at Signa - from Chrysler building to Berlin landmark
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +6 min

SIGNA PRIME/PROPERTY PORTFOLIOAccording to Signa, Prime is the group's largest company in its real estate division, valued at around 20.4 billion euros ($22.23 billion). Since 2019 Signa Holding has also been a co-owner of New York's iconic Chrysler Building. TRADING/RETAIL COMPANIESBenko has bundled his trading interests under the divisions Signa Retail and Signa Premium. In Switzerland, Benko's trading investments are bundled into Signa Retail Selection AG, which filed for bankruptcy protection on Wednesday. In 2018, Signa Holding bought around 24% stake in Austrian daily newspapers "Krone" and "Kurier" from Funke media group.

Persons: Lisi Niesner, Rene Benko, Ernst Tanner, Hans Peter Haselsteiner, Torsten Toeller, Arthur Eugster, SIGNA, Signa, Otto Wagner, Benko's, Klaus, Michael Kuehne, Kuehne, Hamburg's, Chirathivat, Benko, Frasers, Kaufhof, Karstadt, Galeria, Alexandra Schwarz, Goerlich, Mattias Inverardi, Victoria Farr, Emma, Rachel More, Elisa Martinuzzi, Tomasz Janowski Organizations: Signa, REUTERS, Chrysler, Bank Austria, Femina, Chrysler Building, . Central Group, Globus, Selfridges, Central Group, Funke, Thomson Locations: Berlin, Germany, New, Britain's Selfridges, Innsbruck, Swiss, Vienna, Hamburg, KaDeWe, Oberpollinger, Munich, Vienna's, Tyrol, Essen, Duesseldorf, London, Switzerland

☆ UK's Frasers plans to buy SportScheck assets out of administration
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +1 min

'SportScheck' store is seen closed due to the coronavirus disease (COVID-19) pandemic in Munich, Germany, February 5, 2021. REUTERS/Michaela Rehle/File Photo Acquire Licensing RightsNov 30 (Reuters) - British sports and fashion group Frasers (FRAS.L) said on Thursday it will seek to buy SportScheck's business and assets out of administration after the German sporting goods retailer filed for insolvency. Signa on Wednesday filed for self-administered reorganisation proceedings, and media reports followed on Thursday that SportScheck would also file for insolvency. Frasers confirmed SportScheck's administration in its statement and said it exercised its rights under its agreement with Signa to withdraw from the deal. However, the London-listed group said it intends to work with SportScheck's appointed administrator to purchase its business and assets.

Persons: Michaela Rehle, Frasers, Signa, SportScheck, SportScheck's, Sri Hari, Krishna Chandra Organizations: REUTERS, SportScheck, Retail, Sports, Sri, Thomson Locations: Munich, Germany, London, SportScheck, Bengaluru

☆ How to choose the best Christmas tree, according to science
▼ + stars: | 2023-11-25 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +11 min

Some aspects of choosing a live Christmas tree, like shape, color, and aroma, are subjective. Two Christmas tree experts explain how to choose between the many types of fir, pine, and spruce. Unlike fir and spruce trees, pine tree needles are clustered in groups instead of individually attached to the branch. The National Christmas Tree Association has a map for finding farms and other retailers that sell live Christmas trees. AdvertisementWhich Christmas tree has the best aroma?

Persons: —, there's, Fraser, Douglas, Noble, There's, Justin G, Whitehill, Bert Cregg, It's, Cregg, Chris Keane Whitehill, it's, Frasers, he's, Jason Reed Douglas, Mel Melcon, Jerry Holt, Bert, they'll, Alex Wong, Andrew Matthews, Tim Leedy, Paul J, Richards, Robert Nemeti, Jens Kalaene, you'll, Cesar L, Laure Organizations: Service, US Department of Agriculture, North Carolina State University, of Horticulture, Michigan State University, Northwest, REUTERS, White, Los Angeles Times, Getty, Star Tribune, MediaNews, Anadolu Agency, Call, Tribune Locations: Oregon, North Carolina, Michigan, Nobles , North Carolina, Douglas, Frasers, Fraser, Pacific Northwest, Europe, Canaan, Allentown

☆ Shein acquires British fast fashion brand Missguided as it looks to expand global reach
▼ + stars: | 2023-10-30 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

Shein has bought British fast fashion brand Missguided from the Frasers Group as the company looks to expand its market share and global reach ahead of a rumored U.S. initial public offering, the companies announced Monday. As part of the deal, Shein will license Missguided's intellectual property to Sumwon Studios, a joint venture between Shein and Missguided founder Nitin Passi. Sumwon will manage and operate the Missguided brand. The brand gained prominence when it went viral for selling £1 bikinis and became a major player in British fast fashion. "Shein aims to reignite the Missguided brand, capitalising on its unique brand personality, and fuelling its global growth through SHEIN's on-demand production model, unparalleled e-commerce expertise and global reach."

Persons: Shein, Frasers, Nitin Passi, Sumwon, Missguided, Donald Tang Organizations: Frasers Group, Sumwon Studios, Frasers, Forever, Sparc Group, Authentic Brands Group, Simon Property, CNBC Locations: British, Shein, SHEIN's

[1/5] A view of the residential apartments in Country Garden's Forest City development in Johor Bahru, Malaysia August 16, 2023. The group hired PJT Partners (PJT.N) as financial adviser to lead discussions with Country Garden, two people with knowledge of the matter said. Ratings agency Moody's said on Thursday it could downgrade Country Garden's (2007.HK) 'corporate family rating' if the recovery prospects for its creditors weaken further. Moody's said Country Garden's senior unsecured rating of C was already at the lowest of its rating scale. Country Garden and Frasers did not immediately respond for a request for comment on that sale.

Persons: Edgar Su, PJT, Moody's, Frasers, Houlihan Lokey, Sidley Austin, Yeung Kwok Keung, Yang Huiyan, Yeung, Yang, Cao Jianglin, Garden's, China Evergrande, Scott Murdoch, Xie Yu, Clare Jim, Anousha Sakoui, Liz Lee, Lewis Jackson, Kim Coghill, Christopher Cushing, Jamie Freed, Lincoln, Miral Fahmy, Jane Merriman Organizations: REUTERS, HK, PJT Partners, Garden's, Australian Financial, Reuters, China International Capital Corporation, Finance, HSBC, China National Agricultural Development, SOE, Thomson Locations: Garden's, City, Johor Bahru, Malaysia, China HONG KONG, Garden's Australian, Melbourne, China, Shunde, Guangdong province, Sydney, Hong Kong, London, Beijing, Sydndey

☆ UK's Currys drops dividend on uncertain economic outlook
▼ + stars: | 2023-07-06 | by ( James Davey | ) www.reuters.com time to read: +2 min

The group also reported a 38% fall in full year profit, hurt by the weak performance of its Nordics business. Accordingly, we're being prudent in our planning, and in further strengthening our balance sheet," CEO Alex Baldock said. Baldock said Currys had taken actions to maximise operating cashflow through margin improvement, delivering cost savings and reducing capital expenditure. Nevertheless, the economic outlook remains uncertain in our main markets," Currys said. The group reported a statutory loss before tax of 450 million pounds for the year, driven by a previously announced non-cash goodwill impairment of 511 million.

Persons: we're, Alex Baldock, Baldock, Currys, Mike Ashley's Frasers, Frasers, James Davey, Sarah Young, Jason Neely Organizations: Consumers, Revenue, Ireland, Thomson Locations: British, Europe, Currys

☆ Odey offloads stake in UK Retailer AO, Sky News reports
▼ + stars: | 2023-06-10 | by ( ) www.reuters.com time to read: +1 min

June 10 (Reuters) - Odey Asset Management has sold its 19% stake in UK-based retailer AO World Plc (AO.L) to Frasers Group (FRAS.L), Sky News reported on Saturday. Frasers Group bought the stake for 75 million pounds ($94.27 million), the report said. Odey Asset Management, AO and Frasers Group did not immediately respond to a request for comment by Reuters. On Friday, asset managers Schroders Plc (SDR.L) and Canada Life moved to cut back their dealings with Odey Asset Management, citing allegations of sexual misconduct by its founder, Crispin Odey, that were published by the Financial Times and Tortoise Media a day earlier. Odey Asset Management told investors in a letter dated June 8, which was seen by Reuters, that it "does not recognise the picture of the firm that has been painted" by the allegations.

Persons: Crispin Odey, Goldman Sachs, Morgan Stanley, Jose Joseph, Urvi, Alex Richardson, Helen Popper Our Organizations: Odey, Management, Frasers, Sky News, Frasers Group, Reuters, Schroders, Odey Asset Management, Financial Times, Tortoise Media, JPMorgan, Thomson Locations: Canada, Bengaluru

☆ UK's FTSE 100 rises on miners boost
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 up 0.1%, FTSE 250 adds 0.1%Feb 20 (Reuters) - UK's exporter-heavy FTSE 100 gained on Monday as mining stocks rose on a bet on demand recovery in top consumer China, and retailer Frasers Group jumped after announcing a share buyback. The blue-chip FTSE 100 (.FTSE) gained 0.1% at 8:25 GMT, trading above the 8,000 point mark after breaching a record high last week. Frasers Group (FRAS.L) climbed 3.8% after the sports goods retailer said it intends to commence a new share buyback programme. Miners Rio Tinto (RIO.L) and Anglo American (AAL.L) were amongst top gainers, rising close to 1% each. The more-domestically focussed FTSE 250 midcap index (.FTMC) rose 0.1%Reporting by Shashwat Chauhan in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ Mike Ashley's Frasers buys JD Sports' premium fashion brands for $58 mln
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +2 min

Dec 16 (Reuters) - British retailer Frasers Group (FRAS.L) said on Friday it has bought shares in premium fashion brands of JD Sports (JD.L) for about 47.5 million pounds ($57.7 million), as the Mike Ashley-owned company continues its drive into a more premium market. Frasers, formerly called Sports Direct, also acquired and transferred shares of more than 10 of the premium fashion brands, including Pretty Green, Cricket and Topgrade Sportswear, which the sports retailer held. JD Sports, in a separate statement, said it has divested 15 of its UK-based businesses to Frasers. JD Sports said these divestments will allow the company to focus on the international and digital expansion of the core premium sports fashion platforms. Frasers, which is on an acquisition spree, recently boosted its maximum exposure to German fashion house Hugo Boss (BOSSn.DE) and snapped up a more than 5% stake in struggling British online fashion retailer ASOS (ASOS.L).

☆ UK's FTSE 100 falls; BAT, Frasers flag challenging outlook
▼ + stars: | 2022-12-08 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

SummarySummary Companies FTSE 100 down 0.1%, FTSE 250 falls 0.2%Frasers drop to bottom of FTSEDS Smith rises on resilient demandDec 8 (Reuters) - UK's FTSE 100 was dragged lower by consumer staples and retailers on Thursday after forecasts from British American Tobacco and Frasers fuelled concerns over economic outlook. The blue-chip FTSE 100 (.FTSE) dipped 0.1% while the FTSE 250 was down 0.2%, as of 0949 GMT. Frasers Group (FRAS.L) was the biggest drag on retailers index (.FTNMX404010), which shed 0.9%, after the sportswear and clothing firm warned of a challenging and uncertain outlook despite posting an upbeat half-yearly profit. UK markets are bracing for a long uncertain winter amid rising borrowing costs and double-digit inflation that have sparked worker unrest in the recent past. Reporting by Johann M Cherian in Bengaluru; Editing by Saumyadeb Chakrabarty and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Fund manager names two global retailers that are about to 'dominate'
▼ + stars: | 2022-12-05 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

London-listed retailers Frasers Group and Next are two clothing retailers that will "dominate" the sector during a recession, according to a veteran Schroders fund manager. Andrew Brough, who runs the Schroder UK Mid Cap Fund, said the two conservatively run companies are well placed to expand and take market share during a downturn through acquisitions. Shares of Frasers Group have risen by 30.6% over the past year, outperforming the FTSE 350 general retailers index, which has fallen by 29.3% over the same period. Frasers Group is Brough's largest holding, making up 6.7% of his fund. Brough, who's run his fund for 23 years, said he was more optimistic than others about the U.K.'s economy over the near term.

☆ UK retailer Next to buy collapsed rival Joules - media reports
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +1 min

Dec 1 (Reuters) - British fashion chain Next Plc (NXT.L) has secured a deal to buy collapsed retailer Joules (JOUL.L) out of administration, according to media reports on Thursday. Before Joules went into administration, Next was in talks with the company over a potential 15 million pound equity investment, but talks were eventually terminated. Last month, some reports said South African fashion retailer TFG (TFGJ.J), the owner of British brands such as Phase Eight, Hobbs, Whistles and Damsel, was also in the race to buy Joules. loadingNext, TFG, M&S, Frasers and Joules' administrator, Interpath Ltd, did not immediately respond to Reuters' requests for comment. TFG's chief executive on Wednesday had declined to comment on reports that it was buying Joules.

SINGAPORE, Nov 28 (Reuters) - Link Real Estate Investment Trust (0823.HK), Asia's biggest REIT, has emerged as the frontrunner to buy a portfolio of assets from Singapore shopping mall owner NTUC Enterprise Co-operative Ltd, multiple sources told Reuters on Monday. If Link REIT does buy, the assets will be its first in Singapore. Mercatus and Hong Kong-listed Link REIT declined to comment on the matter. Nearly three-quarters of its portfolio value is in Hong Kong. Link REIT has been on the prowl for assets in Singapore and other countries to diversify its portfolio.

☆ Gieves & Hawkes, Tailor Favored by British Royalty, Secures Rescue
▼ + stars: | 2022-11-25 | by ( Trefor Moss | ) www.wsj.com time to read: 1 min

The Savile Row suit maker has been acquired by Frasers Group, whose brands include a department chain and sportswear retailer. LONDON—Gieves & Hawkes, tailor to royalty and world leaders for centuries, is back in British hands after five ill-fated years of Chinese ownership that threatened its survival. Frasers Group PLC, whose stable of brands include a department store chain and discount sportswear retailer, said Friday it had acquired the Savile Row suit maker in a deal overseen by administrators appointed to sell the assets of its failed former owner.

☆ This startup aims to mix traditional credit cards with buy now, pay later. Check out the 13-slide pitch deck Tymit used to raise $26 million.
▼ + stars: | 2022-10-26 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

Tymit, a startup that mixes credit cards with buy now, pay later, has raised $26 million. A startup that aims to offer the best of both traditional credit cards and buy now, pay later has raised $26 million in fresh funds. Buy now, pay later has surged in popularity in recent years with a number of multi-billion dollar companies like Klarna, Afterpay, and Affirm emerging as leaders in the space. Buy now, pay later startups raised over $4 billion in 2021, according to Crunchbase. Frasers, which was founded by controversial British billionaire Mike Ashley, is set to offer buy now, pay later products for its brands.

☆ Mike Ashley's Frasers raises Hugo Boss exposure and buys ASOS stake
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +2 min

A Frasers spokesperson also confirmed a Telegraph report that the British sportswear and apparel retailer now holds more than 5% of ASOS. Frasers first took a stake in Hugo Boss - a supplier to its House of Fraser and Flannels chains - in 2020. The group this month disclosed a 4.5% stake in online clothing retailer N Brown (BWNG.L) and is also seeking full ownership of Australian online retailer Mysale (MYSL.L). It also bought online retailer Studio Retail in February. Shares in Frasers firmed by 0.6% while shares in Hugo Boss were up 0.2%.

☆ Mike Ashley's Frasers ramps up stake in Asos -Telegraph
▼ + stars: | 2022-10-22 | by ( ) www.reuters.com time to read: +1 min

Oct 22 (Reuters) - UK businessman Mike Ashley has built a stake of more than 5% in online fashion retailer Asos Plc (ASOS.L), the Telegraph reported on Saturday, citing market sources. The billionaire's sportswear and fashion retail company, Frasers Group Plc (FRAS.L), notified Asos on Friday that it had become a significant shareholder in the company, the report said. The move makes Frasers the fourth-biggest shareholder in Asos. Register now for FREE unlimited access to Reuters.com RegisterAccording to the newspaper, Frasers is seeking to use its stake in the online retailer to build a partnership as Asos recently announced an overhaul of its business model. Register now for FREE unlimited access to Reuters.com RegisterReporting by Akanksha Khushi in Bengaluru Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Outspoken British billionaire Mike Ashley
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +2 min

Sept 20 (Reuters) - Mike Ashley, one of Britain's most outspoken business leaders, will step down as a director at sportswear and fashion retail group Frasers (FRAS.L) in October, months after handing over the CEO role to his daughter's partner. read moreAshley, 57, has been frank and outspoken about rivals and politicians. His love of casinos and stories of settling banker fees by playing bar games, as well as clips on YouTube showing him sinking a pint of beer in a few seconds, have fed an image of a maverick far removed from the typical British business chiefHere are some facts on the British billionaire:Register now for FREE unlimited access to Reuters.com Register* At 18, Ashley started his first sports and ski shop in 1982 on a high street in the southern English town of Maidenhead, with the help of a 10,000 pound loan from his parents* By the late 1990s, he had opened 100 stores across the UK, rebranding his chain as Sports Soccer* He then took the company public under the name Sports Direct in 2007; The company is now worth 3.75 billion pounds ($4.29 billion) and Ashley is worth 4.02 billion pounds as of June 2022, according to Forbes* In 2007, Ashley also bought British Premier League soccer club Newcastle United, which in 2021 was bought out by a Saudi-Arabian backed consortium after a long-running takeover saga* Known for his acquisition of fellow retailers, Ashley bought a stake in House of Fraser in 2014, and over the years, has taken positions in Debenhams, MySale (MYSL.L), Tesco (TSCO.L), Adidas (ADSGn.DE) and Hugo Boss (BOSSn.DE)* He was heavily criticised by senior British politicians and unions after an investigation in 2015 revealed some workers at Sports Direct received less than the minimum wage* Calls for him to step down as Sports Direct chairman were rejected by the company and Ashley was made CEO* Sports Direct purchased House of Fraser out of administration in 2018 and in 2019 after the merger, he rebranded the Sports Direct empire as Frasers* Ashley stepped down as Frasers CEO early this year, handing over the baton to his daughter's partner Michael Murray, who married his daughter in May; Ashley has three children(Sources: Company website, Reuters reports and UK government website)(1 British pound = $1.1442)Register now for FREE unlimited access to Reuters.com RegisterReporting by Radhika Anilkumar in Bengaluru; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.

☆ Energy, consumer staples lift London's FTSE 100 in big week for central banks
▼ + stars: | 2022-09-20 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

Register now for FREE unlimited access to Reuters.com RegisterThe London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. The commodity-heavy FTSE 100 (.FTSE) advanced 0.2% at 0809 GMT after a holiday to mark Queen Elizabeth's funeral, supported by a more than 1% jump in oil majors BP (BP.L) and Shell (SHEL.L). Consumer staples stocks such as Diageo (DGE.L) and British American Tobacco (BATS.L) rose about 1.5% each on the internationally focussed FTSE 100. "The move today on the FTSE 100 shows just how sensitive the index is to the economy in China," said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown. Register now for FREE unlimited access to Reuters.com RegisterReporting by Bansari Mayur Kamdar in Bengaluru; Editing by Savio D'Souza and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "Frasers"

20 mentions found