UK-based fashion retailer Frasers Group plans to invest in its physical and digital elevation strategy, though it believes there could be more restrictions this winter.

Revenues of, the group slumped by 8.4 per cent from £3.9 billion in pandemic-hit 2020 to £3.6 billion in the year that ended 25 April 2021.

As per Apparel Resources, the Group’s sports retail revenue too fell by 10.7 per cent to £1.9 billion during the period.

The fall has been attributed to frequent store closures. However, the Group added that the fall was offset by growth in its e-commerce business as well as pent-up demand.

Frasers Group’s Premium Lifestyle category saw its yearly revenue rise by 1.9 per cent – all thanks to new store openings and e-commerce growth.

The European retail revenue for the Group, however, dipped by a worrying 11.8 per cent, but that was expected considering several lockdown-induced store closures all through the year.

Notably, Group’s EBITDA fell by 2.6 per cent to £536.5 million. Frasers Group was earlier known as Sports Direct International, before changing its name in 2019 following the acquisition of House of Frasers.