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Coronavirus: Frasers warns on 'significant' disruption

Frasers Group has said that it will not meet its growth targets for 2020, because of the coronavirus outbreak.

The group, which includes Sports Direct and House of Fraser, announced it will no longer hit its targets for the year to 26 April 2020, and given the ongoing uncertainty, is no longer giving formal guidance on its progress for the financial year.

In a statement, the group said: “The board expects that Covid-19 will cause significant disruption to its business, including reducing customer footfall and therefore expects that Frasers Group will not achieve the range of guidance of 5% to 15% EBITDA growth previously given for the financial year ending 26 April 2020.”

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