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Mike Ashley's Frasers retail empire has issued a profit warning as retailers face a much leaner Christmas and longer spells of restrictions than earlier hoped.  The firm said guidance of a 20 to 30 per cent boost in profits this year is now unlikely to materialize. Frasers Group, which includes Sports Direct, House of Fraser, Evans Cycles and Game Digital, had only made the forecast earlier in December, but things have taken a sudden turn for the worse.   Mike Ashley's Frasers retail empire ha scut back its profit forecasts  The new Tier 4 rules introduced over the weekend have hit the bu...

Mike Ashley's Frasers Group has issued a profits warning after the government announced new coronavirus restrictions closing non-essential retail across large parts of the country. The company, which includes Sports Direct, House of Fraser, Evans Cycles and Game Digital, said it was unable to commit to latest earnings targets after the Tier 4 announcement at the weekend. It comes after the British Retail Consortium (BRC) warned of a "severe" impact from the new restrictions, with thousands more jobs across the sector potentially at risk. Please use Chrome browser for a more accessible video ...

Frasers shares tank on tier 4 profit warning Mike Ashley's retail empire has ripped up guidance it issued earlier this month following new government restrictions 21 December 2020 • 12:05pm Mike Ashley's retail empire Frasers Group has warned that profits will be hammered by the new Tier 4 lockdown across London and swathes of the South East, as retailers prepare for a brutal start to 2021.  The Sports Direct and House of Fraser owner said it is unlikely to hit previous forecasts of a 20pc to 30pc rise in annual profits because dozens of its stores have been forced to shut. Frasers sa...