Last checked at 25 May 2022 07:00
Date: 25 May 2022
FRASERS GROUP PLC
DISPOSAL OF BOBS & EMS
Frasers Group plc ("FG" or "The Group") confirms that it has disposed of its US retail businesses trading as Bobs Stores ("Bobs") and Eastern Mountain Sports ("EMS") for a cash consideration of $70m to GoDigital Media Group ("GDMG"). These funds will go into the Group's general working capital pool.
The Bobs and EMS store estate does not include any of the new elevated stores which are core to the FG Elevation strategy. The disposal of these non-core businesses allows FG to have an even greater focus on delivering its Elevation strategy by focusing on store experience, digital and product.
The board of FG is grateful to staff in Bobs and EMS for their loyal service and wishes these businesses every success for the future.
Ends.
Frasers Group plc
Thomas Piper, Company Secretary T. 0344 245 9200
LEI:213800JEGHHEAXIJDX34 E. investor.relations@frasers.group
Chris Wootton, Chief Financial T. 0344 245 9200
Officer E. financial@frasers.group
Ronnie Laffar, Head of PR & T. 07585 886189
Communications E. fgpr@frasers.group
Rosie Oddy, Brunswick Group, T. 07734 861279
PR Advisors E. frasersgroup@brunswick.com
Numis
Luke Bordewich T. 020 7260 1000
Ollie Steele
Duncan Wilson
Liberum
John Fishley T. 020 3100 2000
Kane Collins
Nikhil Varghese