British sportswear and apparel retailer and owner of the brand Sports Direct, Frasers forecasts a profit of £575 million to £625 million in FY25.
During the year ending April 28, 2024, the company’s annual profit rose by 13.1 per cent while its adjusted pretax profit grew to £544.8 million ($708.4 million) as against £478 million reported in the previous year.
The company anticipates this growth will continue in the new financial year as it benefits from a strategy to move the group upmarket.
Controlled by founder Mike Ashley, The FTSE 100-listed Frasers is implementing an ‘elevation strategy’ which includes investments in flagship stores, online operations, and stronger partnerships with brands such as Nike, Adidas, and The North Face.
The retailer’s ‘Elevation Strategy’ strengthens its financial performance, with strategic brand relationships offering a better access to products across the group. The company believes, the strategy will continue to drive growth with significant synergies from both automation program and the integration of acquisitions.
In addition to Sports Direct, Frasers' portfolio includes brands such as House of Fraser, Flannels, USC, and Jack Wills. The group also holds strategic equity stakes in various other retailers, including Hugo Boss, ASOS, Boohoo, Currys, and AO World.
