5th Jul 2025 10:38
(Alliance News) - Frasers Group PLC will vote against any dividend payments at Metzingen, Germany-based fashion company Hugo Boss AG, Bloomberg reported Friday.
Frasers, the Shirebrook, England-based owner of the House of Fraser, Sports Direct and Flannels brands, holds about 25% of voting rights in Hugo Boss, according to a filing from June.
Frasers wants Hugo Boss to prioritise funding long-term growth and financial flexibility, adding that it views Hugo Boss's stock as undervalued. Further, Frasers asked Hugo Boss to redeem all its treasury shares.
Frasers Chief Executive Officer Michael Murray in May joined the supervisory board of Hugo Boss, after Frasers in April had expanded its strategic investment into Hugo Boss.
While being opposed to dividend payments, Frasers will support Hugo CEO Daniel Grieder, as well as Stephan Sturm, who is chair of the supervisory board, in growing Hugo Boss.
Hugo Boss will release half-year results on August 5.
Hugo Boss shares closed 4.0% higher at EUR41.69 each on Friday in Frankfurt, giving it a market capitalisation of EUR2.85 billion. Frasers shares closed 2.2% lower at 676.50 pence each for a market capitalisation of GBP3.05 billion.
By Tom Budszus, Alliance News slot editor
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Frasers Group