Frasers sales set to fall as gloom takes toll

Mike Ashley's Frasers Group is expected to reveal a fall in sales this week as economic gloom takes it's toll on consumers.

The retailer, whose brands include Sports Direct, House of Fraser and Flannels, will provide an insight into the mood on the High Street when it delivers annual results on Thursday.

Data last week showed shoppers have been staying away due to the sweltering heat.

Analysts predict Frasers will report sales of £5.3billion for the year to the end of April, down from £5.54billion a year earlier.

Frasers is led by majority-owner Ashley's son-in-law Michael Murray.

The group said it would post annual profits of between £550m and £600m, after lowering its expectations from between £575m and £625m.