Frasers Group, the parent of Sports Direct, announced it will immediately put its subsidiary Bob’s Stores under strategic review after news arrived that Nike will no longer distribute to the U.S. chain.
The company, which acquired Bob’s Stores in 2017, said in a statement, “Following recent press reports, Frasers Group confirms that it was yesterday notified that, as of the end of March 2021, Nike will no longer distribute to Bob’s Stores, a Frasers Group subsidiary that trades from 24 outlets in the United States. Frasers Group understands that Bob’s Stores is one of several US based retailers Nike has cut ties with in recent days.”
The statement added, “The Bob’s Stores estate does not include any of the new elevated stores which are core to the Frasers Group elevation strategy. Frasers Group continues to invest in its store portfolio and brand relationships and remains committed to its elevation strategy. While Nike’s decision does not directly affect the rest of the Frasers Group, Bob’s Stores will immediately be put under strategic review.
As reported, Susquehanna International Group said in a note Monday that proprietary checks confirm that Nike will be closing nine wholesale accounts: City Blue, VIM, EbLens, Belk, Dillard’s, Fred Meyer, Bob’s Stores, Boscov’s, and Zappos
Frasers Group also owns Eastern Mountain Sports in the U.S. and Flannels House of Fraser and Jack Wills overseas.
Photo courtesy Bob’s Stores
