Read the latest Sports Direct retail news on Retail Gazette
Sports Direct is currently Europe’s biggest sports retailer. After starting as a humble high street shop, Sports Direct now has 715 stores and serves millions of customers every week.
Sports Directs’ vision is to become the world’s destination for sport and fitness, serving active lifestyle consumers regardless of what activity they choose to pursue.
Currently the brand has more than 500 shops in the UK, 170 outlets in the EU and 35 locations in Malaysia. Combined these stores employ more than 20,000 colleagues.
Sports Direct is part of Frasers Group plc, which owns and operates brands such as French Connection, House of Fraser, Evans Cycles, Jack Wills, Game and many more. Frasers Group operates stores in 25 countries around the world, and operates in three core pillars: sports, lifestyle and luxury. These pillars underpin their elevation strategy to rethink retail by focusing on store experience, digital and product. Their pioneering approach to retail is showing no sign of slowing, and as they continue to grow their stores, they turn our attention to continually transforming their brands.
In December 2021, Frasers Group announced a £70 million spending spree to buy up stock in the company in an effort to strengthen its share price.
The group, which owns House of Fraser and Sports Direct, said the plan is to reduce the number of shares in circulation.
The spending will start now and run until 24 April 2022, after the company recently spent £60 million on shares.
Earlier the same month, Frasers Group refreshed its bank loan facilities and secured nearly £1 billion.
The new facility – which is valid for three years – will provide the retail empire with credit facilities and borrowing £930 million to support its ongoing growth ambitions.
The growth plans will see Frasers investing significantly across its portfolio of retail fascias and digital platforms, with the vision to serve consumers with the world’s best sports, premium and luxury brands.
