British retailer Frasers Group plc (FG) has confirmed that it has disposed of its US retail businesses trading as Bobs Stores, a chain of 27 retail stores in the northeastern US, and outdoor clothing and equipment retailer Eastern Mountain Sports (EMS) for a cash consideration of $70 million to GoDigital Media Group (GDMG). These funds will go into the Group's general working capital pool.The Bobs and EMS store estate does not include any of the new elevated stores which are core to the FG Elevation strategy.
The disposal of these non-core businesses will allow FG to have a greater focus on delivering its Elevation strategy by focusing on store experience, digital and product, the company said in a statement.
British retailer Frasers Group plc has disposed of its US retail businesses trading as Bobs Stores, a chain of 27 retail stores in the northeastern US, and outdoor clothing and equipment retailer Eastern Mountain Sports for a cash consideration of $70 million to GoDigital Media Group. These funds will go into the Group's general working capital pool.#
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