Frasers Group saw lower sales in its first half, as would be expected given that most of its stores were closed for part of the period. But the fall was relatively small and the company’s profits rose.
Mike Ashley's Frasers Group confirmed on Monday that it’s interested in buying Debenhams even though the auction for the Department store chain has already ended and the chain is expected to close completely by March.
Frasers Group is continuing its deep dive into the luxury sector. On Thursday it announced that it has increased its already-large stake in leather goods company Mulberry and could make an offer for the brand.
A major shareholder advisory group has recommended Frasers Group investors to vote against Mike Ashley’s reelection at the annual general meeting this Wednesday over criticism of the company’s corporate governance.