Frasers Group acquires 96-year-old Scottish retailer Greaves Sports

By: Hannah Abdulla

Frasers Group has acquired Greaves Sports, a Scottish retailer operating from a single physical store in Glasgow and its e-commerce website. The company has been in business for 96 years.

In an official statement, Greaves Sports reassured customers:

"We can reassure our customers that our Gordon Street store and online store will remain under the Greaves Sports brand you know, with the same levels of service and expertise we've strived to provide for nearly 100 years."

The company also confirmed that all gift cards and loyalty points accumulated will remain valid.

"We continue to ensure our customers, new and old, are unaffected by these developments. Whether you're browsing our huge range of products and sport-specialist services online, or visiting our friendly staff at our Glasgow store, the Greaves brand of friendly, expert advice will continue."

Frasers Group told Just Style that the purchase reinforces its "commitment to investing in Scotland and providing customers with greater choice and enhanced in-store experiences whilst further strengthening our store portfolio." The conglomerate also confirmed that it will continue to trade under the Greaves branding.

Recent Financial Performance

Frasers Group recently announced an 8.7% year-on-year (YoY) increase in revenue to £5.33bn ($7.16bn) for fiscal year 2026 (FY26), primarily driven by international expansion and improved margins across its core retail brands.

For the 52 weeks ending 26 April 2026, Frasers' international revenue grew by 59.2%, helping to offset:

• Subdued trading conditions
• Lingering industry-wide inventory challenges
• Weaker consumer confidence through the latter half of the fiscal year and into the start of FY27

Hugo Boss Acquisition Bid

Last month, Frasers Group — which holds a 26% stake in Hugo Boss — initiated a voluntary public cash offer to acquire full ownership of the company, valuing the proposed transaction at approximately €1.98bn ($2.65bn).

However, earlier this month, the boards at Hugo Boss stated that the offered price of €38.00 per share does not adequately reflect Hugo Boss's intrinsic value or its medium- to long-term growth potential.

Analyst Commentary

David Hughes of Shore Capital commented on Frasers Group's recent results and activity, noting that gross margin benefited from a higher share of sales. While M&A drove higher revenues, trading margins were hit by impairments to acquired assets.

"All of this paints a picture of a business where the impact of a history of M&A activity continues to cloud the strength of the core.

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"£217m of impairments, including full goodwill write-downs at XXL and Twinsport, and a partial write-down at Holdsport, drove an operating loss. While these charges are non-cash and should not repeat at the same level, the fact that they have come so soon after the deals were completed does raise questions for us around the amount spent on these deals given the acquisition pricing. The strategic goal to build international scale is clear, but Frasers now needs to prove it can translate such scale into profit growth."

"Frasers Group acquires Greaves Sports" was originally created and published by Just Style, a GlobalData owned brand.