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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Sports Direct International    FRAS   GB00B1QH8P22

SPORTS DIRECT INTERNATIONAL

(FRAS)
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Sports Direct International : UK retailer Frasers to book 100 million pounds lockdown charge

02/23/2021 | 02:46am EST

LONDON (Reuters) - British sportswear retailer Frasers will book a non-cash charge, potentially in excess of 100 million pounds ($141 million), in its 2020-21 results to account for impairment of its assets during the latest COVID 19 lockdown, it said on Tuesday.

On Monday Prime Minister Boris Johnson set out England's roadmap out of lockdown with non-essential stores not opening until April 12 at the earliest.

Frasers, which was formerly called Sports Direct and is controlled by Mike Ashley, said it anticipated making material accounting impairments to freehold properties, other property, plant and equipment, and other assets.

"Given the length of this current lockdown, potential systemic changes to consumer behaviour, and the risk of further restrictions in future, we believe this non-cash impairment could be in excess of 100 million pounds," it said.

While its shops have been closed Frasers has been able to serve customers online.

Shares in Frasers, down 6.5% over the last year, closed Monday at 460 pence, valuing the group at 2.4 billion pounds.

($1 = 0.7107 pounds)

(Reporting by James Davey, Editing by Paul Sandle and Louise Heavens)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
FRASERS HOSPITALITY TRUST 0.00% 0.5 End-of-day quote.-4.76%
SPORTS DIRECT INTERNATIONAL -1.61% 464.6 Delayed Quote.4.61%
All news about SPORTS DIRECT INTERNATIONAL
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02/23SPORTS DIRECT INTERNATIONAL  : Frasers to Book $141 Million Impairment Charge Am..
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02/23SPORTS DIRECT INTERNATIONAL  : UK retailer Frasers to book 100 million pounds lo..
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02/08SPORTS DIRECT INTERNATIONAL  : Frasers Offloads 25% Stake in French Connection
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01/25Mike ashley's frasers says to close jenners building (house of fraser) store ..
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01/19SPORTS DIRECT INTERNATIONAL  : Frasers Boosts Stake in Hugo Boss to 15%
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More news
Financials
Sales 2021 3 655 M 5 078 M 5 078 M
Net income 2021 28,5 M 39,5 M 39,5 M
Net Debt 2021 80,5 M 112 M 112 M
P/E ratio 2021 32,5x
Yield 2021 -
Capitalization 2 332 M 3 262 M 3 240 M
EV / Sales 2021 0,66x
EV / Sales 2022 0,59x
Nbr of Employees 30 000
Free-Float 27,0%
Chart SPORTS DIRECT INTERNATIONAL
Duration : Period :
Sports Direct International Technical Analysis Chart | FRAS | GB00B1QH8P22 | MarketScreener
Technical analysis trends SPORTS DIRECT INTERNATIONAL
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 455,83 GBX
Last Close Price 464,60 GBX
Spread / Highest target 23,8%
Spread / Average Target -1,89%
Spread / Lowest Target -57,0%
EPS Revisions
Managers and Directors
NameTitle
Michael James Wallace Ashley Chief Executive Officer & Director
Chris Wootton Chief Financial Officer & Director
David Daly Non-Executive Chairman
Nicola Frampton Independent Non-Executive Director
Richard John Bottomley Senior Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
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