Date: 25 August 2020
Frasers Group plc
("Frasers Group" or the "Company")
Nike distribution to Bob's Stores
Following recent press reports, Frasers Group confirms that it was yesterday notified that, as of the end of March 2021, Nike will no longer distribute to Bob's Stores, a Frasers Group subsidiary that trades from 24 outlets in the United States. Frasers Group understands that Bob's Stores is one of several US based retailers Nike has cut ties with in recent days.
The Bob's Stores estate does not include any of the new elevated stores which are core to the Frasers Group elevation strategy. Frasers Group continues to invest in its store portfolio and brand relationships and remains committed to its elevation strategy.
While Nike's decision does not directly affect the rest of the Frasers Group, Bob's Stores will immediately be put under strategic review.
Ends.
Frasers Group plc T. 0344 245 9200
Tom Piper, Company Secretary E. investor.relations@sportsdirect.com
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Private Policy.