Sports Direct and House of Fraser owner defies cost-of-living gloom

Retail giant said it expected lucrative growth in 2025 and beyond

The company said there had been strong trading momentum in the first half and that had continued into the early weeks of the second half, especially at Sports Direct.

Retail giant Frasers — which owns Sports Direct, Flannels, and Heatons in Ireland — has stuck to its profit goal for the year and said it expected lucrative growth in 2025 and beyond, as the empire majority owned by tycoon Mike Ashley weathers Britain’s cost-of-living crisis.

Frasers, which also owns Lillywhites, Lonsdale, Jack Wills, Evans Cycles, Sofa.com and more, reiterated its goal of adjusted profit before tax at a record £500m (€583m) to £550m for this financial year.