Mike Ashley's Frasers retail group beats the gloom as bet on sports pays off

Sports Direct  expected to account for about 75% of Frasers’ estimated revenue for 2023

Anaylsts reckon parts of the business, such as Sports Direct and Flannels, will shield the company from the full impact of the downturn.

Frasers Group is defying a slump in UK retail shares, in a sign that Mike Ashley’s campaign to turn the firm into the “Selfridges of Sport” is starting to pay off.

Frasers is on track to be the only stock in the Ftse-350 Retail Index to have risen this year, jumping 15% year-to-date while the benchmark has lost a third of its value.