Frasers reveals sizable stakes in Currys and Boohoo Group

Frasers Group PLC (LON: FRAS) is in focus today after the retailer revealed to have invested in Currys and Boohoo Group PLC (LON: BOO).

Frasers buys 101 million shares of Currys

On Tuesday, the British sports-fashion company announced an 8.9% stake in Currys in line with its strategy to invest in its retail peers.

That translates to about 101 million shares of the electrical and telecom products company. In its press release, Frasers Group said:

In April, Frasers reported a record £340 million of profit before tax for its full financial year. The U.K. stock is still trading at roughly the same price at which it started 2023.

Frasers takes a 5.0% stake in Boohoo Group

Frasers also confirmed today that it has bought 63.5 million of Boohoo shares that has a stellar portfolio of thirteen notable fashion brands.

It’s stake in the Manchester-headquartered firm now sits at about 5.0%. According to Frasers Group:

Its CEO Mike Ashley is convinced that these strategic investments will help drive growth moving forward. The news arrives only days after Frasers notched up a 19% stake in AO World – a retail chain that specialises in electrical items.