Frasers Group launches latest £80m share buyback programme
Retailer Frasers Group is to launch an £80m share buyback programme.
The programme will run for the next 11 weeks, until April 28.
The Shirebrook-headquartered retail group operates a portfolio of brands, including Sports Direct, House of Fraser, Flannels, Game, and Evans Cycles.
In December, Frasers revealed a 6% rise in half-year profits, to £235m.
This boosted Frasers’ share price up close to its all-time highs, but has since lost around 15% of its value.
Frasers Group’s shares closed at 784p on Friday, giving the group a market value of £3.55bn.
It is the latest scheme after Frasers ran several buybacks throughout 2023.
The scheme is capped at either £80m or 10m shares, which would represent just above 2% of the company.