Frasers Group kicks off £70m share buyback

Frasers Group

571.00p

17:15 07/01/25

-3.14%

-18.50p

House of Fraser and Sports Direct owner Frasers Group said on Monday that it has kicked off a share buyback programme of up to 10m ordinary shares.

FTSE 100

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17:14 07/01/25

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FTSE 350

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17:14 07/01/25

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FTSE All-Share

4,484.17

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General Retailers

4,671.60

17:14 07/01/25

1.29%

59.64

The company, which also owns Flannels and Jack Wills, among others, will buy back up to £70m and the programme is due to end on 8 December when it reports its half-year results.

At 1005 GMT, the shares were up 3.3% at 689.50p.

Russ Mould, investment director at AJ Bell, said: "Frasers, rumoured to be among the bidders for collapsed online sofa seller Made.com, pleased investors with news of a £70m share buyback.

"The capital return on its own is pleasing but it also says something about the financial strength and robust outlook for the business despite a difficult retail backdrop."