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Frasers faces possibility of demotion from the FTSE 100
Daily Express
|December 02, 2024
MIKE Ashley's Frasers Group faces a crucial week with an investors' update on Thursday and potential relegation from the FTSE 100 next Monday.
Frasers Group, which owns Sports Direct, Flannels and Frasers brands, has suffered a 10% slump in share price over the past six months.
Its performance over that period will be fleshed out in this week's bulletin with shareholders keen to hear bosses' plans for those businesses and the group's attempts to take greater control of other brands.
Frasers is embroiled in a war of words with Boohoo - the online retail giant in which it has 27% stake over its leadership.
Mr Ashley tried and failed to become Boohoo's chief executive, suggesting he could turn it around after sales skidded following weak demand and fierce competition from Asian rivals Shein and Temu.
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