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Frasers Group PLC on Wednesday said it has sold Bob's Stores and Eastern Mountain Sports to US-based GoDigital Media Group for $70 million.
The British retailer group said that the sale did not include any of its ‘new elevated stores’, which are central to Frasers' elevation strategy of ‘focusing on store experience, digital and product’.
The company said: ‘The board of Frasers Group is grateful to staff in Bob's Stores and Eastern Mountain Sports for their loyal service and wishes these businesses every success for the future.’
Frasers said the proceeds will go into its general working capital pool.
Shares in Frasers Group were up 0.2% to 635.00 pence each in London on Wednesday morning.
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