Frasers Group, which owns retailers together with Frasers, Sports activities Direct and Flannels, has been steadily rising its stake in Asos since late 2022.
The most recent share buy reinforces Frasers Group’s place as Asos’s second-largest shareholder after Danish billionaire Anders Holch Povlsen’s Bestseller.
It additionally comes days after Bestseller upped its stake within the British etailer to twenty-eight% on Thursday (20 March), nearing the 30% threshold which, underneath UK acquisition guidelines, would require a compulsory provide for the corporate.
On Friday (21 March), Asos issued a brief buying and selling replace forward of its interim monetary outcomes subsequent month, stating an expectation for “a big enchancment in profitability” and a 9% fall in gross sales yr on yr.
In its final outcomes for the yr to 1 September 2024, group income fell 18% and working losses grew to £331.9m.
