Investors will get a glimpse at Mike Ashley’s Frasers Group, which will give them a snapshot of its performance since October when the tracksuit tycoon retired.
Ashley gave Michael Murray, his son-in-law, the task of reorganizing the retail empire that he started in Maidenhead as a sports shop in 1982.
Murray, who married Ashley’s oldest daughter Anna in May. He is now trying to transform crowded stores into more exclusive outlets that sell the most expensive new products from Nike, Adidas, and Under Armour.
Murray stated that when he became CEO, there was only one path and that was a new way.
The half-year results of Frasers will be released on Thursday. They will shed light on the success of Murray’s “elevation strategy”.
Analysts will also be watching for any other strategic changes made by Murray, who insists that he isn’t pulling the strings.
Matt Britzman, Hargreaves Lansdown equity analyst, stated that Frasers is also seeking to increase its digital presence.
“It acquired Missguided, I Saw It First and other companies as part of its push. It will be interesting to see how the integrations go.”
Shareholders will hope for a pre-Christmas boost, amid concerns that shoppers might cut back on spending due to the rising cost.
The shares have been resilient and have risen 13% since the beginning of the year. Investors would be able to get a boost if there is a positive outlook for Christmas.
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