Mike Ashley’s Frasers Group defied retail gloom in its first half as younger shoppers more shielded from the cost of living crisis continued to spend, including at its fast-growing designer chain Flannels.
The group, which owns several chains including Sports Direct and House of Fraser, said younger people, which make up a large proportion of the group’s shoppers, were still prepared to spend on clothes as they were more protected from rising energy bills, mortgage rates and even food costs.
