Frasers Group places jobs at risk as it restructures digital team

Frasers Group is reportedly restructuring its digital team, with a potential office relocation placing 45 roles at risk.

The owner of Sports Direct and Flannels has launched a consultation period for 45 employees, according to Retail Gazette. Despite this review, not all staff will be made redundant.

It comes as Frasers Group looks to move its trading digital team to its Shirebrook HQ in Derbyshire, as the retail giant continues its Elevation Strategy and targets multi-year growth.

The news comes after the company put 100 jobs under consultation back in April when it revealed plans to close its Trafford office in Manchester. Affected staff members were understood to have been given the chance to move to Frasers’ other offices, depending on their role functions.

Earlier this month, Frasers Group reported revenues of £5.53 billion for the year ending 28 April 2024, down from £5.85 billion in 2023.

Retail revenue increased by 4%, "largely due to the impact of businesses acquired in H2 of FY23".  In addition, much of Frasers’ profit was hinged on the success of Sports Direct, which continued to achieve year-on-year revenue and gross profit growth.

Looking ahead, the firm is "confident" that it will continue to drive strong trading, bolstered by the summer of sport and the integration of recent acquisitions, including indie retailer Thackerays.

Frasers Group was also recently reported to be eyeing a potential bid for global luxury fashion platform Yoox Net-a-Porter (YNAP). The company was reported to have approached investment bankers at Goldman Sachs, which has been running the sale process for YNAP owner Richemont.

TheIndustry.fashion has contacted Frasers Group for comment.