‘Tough market conditions’ hit UK half-year retail sales at Frasers Group

Owner of Sports Direct chain says consumer confidence ‘very subdued’ with sales at sports division down 5.8%The owner of Sports Direct and Flannels has said sales have fallen at its UK retail businesses amid heavy discounting by rivals and “very subdued” consumer confidence.Frasers, which is controlled by the former Newcastle United owner Mike Ashley, said sales at its UK sports division were down 5.8% in the six months to 26 October to £1.3bn despite growth at the main Sports Direct chain because of “planned decline” at its Game outlets and the Studio Retail online arm. Continue reading…