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Frasers Group PLC (FRAS)

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Wednesday 25 May, 2022

Frasers Group PLC

Disposal of Bobs and Eastern Mountain Sports

RNS Number : 7357M
Frasers Group PLC
25 May 2022
 

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. [email protected]

 

Chris Wootton, Chief Financial   T. 0344 245 9200

Officer                                                                                               E. [email protected]

 

Ronnie Laffar, Head of PR &   T. 07585 886189

Communications                                                                            E. [email protected]

 

Rosie Oddy, Brunswick Group,  T. 07734 861279

PR Advisors                                                                                     E. [email protected]

Numis

 

Luke Bordewich                                                                             T. 020 7260 1000

Ollie Steele

Duncan Wilson

 

Liberum

 

John Fishley                                                                                    T. 020 3100 2000

Kane Collins

Nikhil Varghese

 

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