Frasers, which includes House of Fraser, Sports Direct and Evans, among others, said the emptying of the high street and shopping centres could prove lucrative for the firm, with more space available to expand. This includes building strong relationships with Adidas and Nike, who spent much of the past decade shifting away from Mr Ashley and his preferred style of aggressive business. The following day he reversed the decision following criticism from the Government and issued an apology. We believe our business is strong as is our balance sheet. Mr Daly did not address the shares he bought and subsequently sold in Frasers during a period where insiders are banned from trading ahead of results. But there was also growth in its UK sports retail division, which includes Sports Direct, Evans Cycles and Game — the latter bought in the past year — and plans are under way to open concept stores that incorporate all three brands. However, it is possible further store closures will occur over the coming year where such terms cannot be agreed.
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Sports Direct owner confident on high street revival but plans remain sketchy
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