CEO of Mike Ashley’s Frasers Group says budget felt like being ‘kicked in the face’

Sports Direct owner reports weaker consumer confidence before and after the budget as it cuts profit expectations

The chief executive of the high street retail giant Frasers said that we felt we'd been kicked in the face" after Rachel Reeves' autumn budget.

Frasers said it had witnessed weaker confidence among shoppers leading up to and since the budget, as the company reduced its profit forecasts for the year.