Frasers Group reports higher FY26 revenue as adjusted profit declines
Frasers Group says its FY26 results reflect continued expansion in international markets and ongoing investment behind its Elevation Strategy. The retailer posts higher revenue and reported pre-tax profit for the 52 weeks ended 26 April 2026, while adjusted profit before tax falls amid weak consumer confidence and sector-wide inventory pressure.
Highlights
- Frasers Group FY26 revenue rises 8.7% to £5,325.9 million, with international revenue up 59.2%, but adjusted profit before tax falls 4.0% to £538.0 million.
- Reported profit before tax increases 38.9% to £527.8 million, gross margin improves by 160 basis points, and retail gross margin rises by 150 basis points year on year.
- Frasers Group pursues strategic acquisitions and investment, including Holdsport, XXL, The Webster, and recent takeover offers for HUGO BOSS and Accent Group, as net assets rise to £2,452.7 million.
FY26 performance and strategic expansion
As reported by London Stock Exchange, citing the Regulatory News Service, Frasers Group says revenue rises 8.7% to £5,325.9 million in FY26, driven by a 59.2% increase in international revenue. Adjusted profit before tax decreases 4.0% to £538.0 million, while reported profit before tax increases 38.9% to £527.8 million.The company says group gross margin improves by 160 basis points year on year and retail gross margin rises by 150 basis points. It also continues to invest in Sports Direct, including the opening of its biggest flagship store in Liverpool, and completes the acquisitions of Holdsport in South Africa and XXL in the Nordics, alongside an investment in U.S. luxury multi-brand retailer The Webster.
FY27 outlook and sector conditions
Chief Executive Michael Murray says the Elevation Strategy continues to gain support from brand partners and consumers, but tough trading conditions persist through the second half and into the start of FY27. He says subdued consumer confidence and excess inventory across the industry are weighing on the wider retail sector and limiting the full benefit of the group's progress.Frasers Group says its strategic ambitions remain unchanged, including further international expansion. The company recently launches a voluntary public takeover offer for HUGO BOSS and an on-market takeover offer for Accent Group, while net assets increase to £2,452.7 million from £1,988.1 million, supporting its investment plans and long-term value creation goals.
Our earlier coverage of the UK economy’s fragile momentum highlighted that GDP rose just 0.1% in May after a 0.1% dip in April, signalling only limited expansion. We noted that higher energy prices tied to the Iran war were weighing on activity and adding strain to public finances, keeping the overall growth backdrop subdued as the new government prepares to take office.
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