Frasers Group posts profit decline as overseas sales lift revenue

Frasers Group, the owner of Sports Direct, reported FY26 results showing revenue of £5.33 billion, up 8.7% year‑on‑year, driven largely by international operations. International revenue jumped 59.2% to £1.6 billion, helped by recent acquisitions in South Africa and Norway.

Underlying profit before tax fell 4% to £538 million despite a 22.1% rise in UK sports retail profit. The company cited weak consumer confidence, subdued spending and excess inventory as pressures on the UK market.

The group continues an aggressive acquisition strategy. Its bid to acquire 74% of Hugo Boss was rejected as financially inadequate, and an independent committee advised against its offer for Australia’s Accent Group. Frasers is also reported to be pursuing Harvey Nichols and other targets. CEO Michael Murray said the group remains “confident to continue to execute with ambition and conviction” while acknowledging the “prolonged and challenging environment”.