Frasers Group sales fall amid ‘challenging’ luxury market and retreat from gaming
by Sarah Butler from on (#6YQ0B)
Pre-tax profits fall 24% despite rise in Sports Direct sales, driven by closures of House of Fraser and Game stores
A challenging" luxury market and retreat from gaming have prompted a fall in sales and profits at Mike Ashley's Frasers.
The group, which is majority owned by the billionaire former Newcastle United owner, said sales fell by 7.4% to 4.7bn and pre-tax profits slid by 24% to 379.5m as it closed some of its House of Fraser department stores and Game video game shops.
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