Frasers reported a decline in customer confidence and tougher trading conditions, resulting in a lowered profit forecast for the current year, now expected to be between £550 million and £600 million.
Mike Ashley disclosed that in the past half year, Frasers' underlying profits decreased by 10.5% to £266.8 million, largely due to a slump in sales.
Michael Murray emphasized progress in various divisions despite the overall decrease in profits, highlighting that Sports Direct UK achieved further sales growth during this challenging period.
Despite the challenges posed by reduced consumer confidence, Frasers anticipates a profitable year, staying committed to their elevation strategy aimed at advancing the business.
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