UK retailer Frasers said a drop in consumer confidence sparked by the new UK Labour government's tax hiking budget had forced it to lower its annual profit guidance.

RTÉ

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Frasers lowers top end of its profit outlook

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Government of Ireland

Frasers expects costs to increase by £50 million in the next financial year as a result of Budget measures

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Sports Direct owner Frasers blames Budget for profit warning and higher costs

MIKE Ashley’s Frasers Group has said it expects to take a hit of “at least £50 million” going into the next financial year as it cut its…

The Herald Scotland

Gannett

Scotland

Ashley’s Frasers blames UK Budget for profit warning amid ‘weaker’ shopper confidence

Mike Ashley’s Frasers Group has lowered its outlook for the financial year citing tougher trading conditions in the wake of October’s Budget. The retailer expects to deliver adjusted pretax profit in the range of £550m to £600m for the 2025 financial year, down from £575m to 625m previously. “Both ahead of and after the recent Budget, consumer confidence has weakened and recent trading conditions have been tougher,” the firm said in its half yea…

City AM

Mike Ashley's Frasers lowers profit guidance following Budget

Det britiske sportsgiganten går ut mot XXLs pengeinnhenting. Nå varsler Frasers at det vil kjøpe hele den hardt pressede sportskjeden.

Frasers Group vil kjøpe XXL

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Sports Direct owner says it has seen ‘weaker consume confidence’ before and after the budget as it cuts profit expectationsThe high street retail Frasers said it had pleasantnessed “weaker” confidence many shops leading up to and since the authentic budget, as the company reduced its profit forecast for the year.It came as the Mike Ashley-found firm revealed a light in salts for the past half-year and lower profits. Continue reading... Source li…

Sports Direct owner says it has seen ‘weaker consumer confidence’ before and after the budget as it cuts profit expectationsThe high street retail giant Frasers said it had witnessed “weaker” confidence among shoppers leading up to and since the autumn budget, as the company reduced its profit forecasts for the year.It came as the Mike Ashley-founded firm revealed a slump in sales for the past half-year and lower profits. Continue reading…    So…

Mike Ashley’s Frasers Group reports 10% profit drop and warns of £50m budget hit

MondialNews

Mike Ashley’s Frasers Group reports 10% profit drop and wars of £50m budget hit

Frasers has seen “weaker” confidence amongst shoppers since the Autumn Budget and as a result the high street retailer has reduced their profit forecast. Mike Ashley revealed the retailer saw… The post ‘Weaker’ shopper confidence amid the Budget forces Frasers to cut profit outlook appeared first on London Business News

London Loves Business

‘Weaker’ shopper confidence amid the Budget forces Frasers to cut profit outlook - London Business News

Frasers Group has lowered its profit outlook for the year to a range of £550m to £600m as group sales fell 8% in the 26 weeks to October 27. The retail giant reported its pre-tax profit had dropped 33% to £207.2m during the period, down from £310.2m the year before, due to a decrease in foreign exchange and the material decline in the Hugo Boss share price. On an adjusted basis, it slipped 1.5% to £299.2m. Group sales fell to £2.54bn, dragged do…

Retail Gazette

Frasers lowers profit outlook as sales slide - Retail Gazette

The group now expects to deliver adjusted pretax profit in the range of £550m to £600m for the 2025 financial year, down from £575m to £625m previously

business-live.co.uk

Reach plc

Mike Ashley's Frasers lowers profit guidance after October's Budget

By LIVE COMMENTARY   Updated:     07:46 GMT, December 5, 2024                                                 
The FTSE 100 will open at 8am Companies with trading reports and updates today include Vodafone, Frasers, AJ Bell, Warpaint London and Watches of Switzerland. Read the Business Live blog from Thursday 5 December below. > If you are using our app or a third-party site, click here to read Business Live 
Fraser’s profits hit by budget 
Fra…

Frasers lowers top end of its profit outlook

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