Profits at Sports Direct in shape February 19, 2014 SPORTS Direct posted a strong rise in profits over the Christmas quarter yesterday but stayed silent on talks with Debenhams after buying an option in the retailer last month that could see it eventually own a 6.6 per cent stake. The sports chain controlled by billionaire Mike Ashley said it had “no further comment” on [...]
What the other papers say this morning – 15 April 2014 April 14, 2014 FINANCIAL TIMES Sports Direct to sell online using credit Sports Direct, the sportswear retailer controlled by Mike Ashley, is poised to begin selling on credit via its website, as it seeks to emulate the model successfully used by fashion chain Next. Dave Forsey, chief executive of Sports Direct, said the company would begin offering credit [...]
Ashley takes option for stake in Debenhams January 16, 2014 SPORTS Direct has sold its stake in Debenhams just four days after acquiring it in favour of an option that could eventually see it owning an even greater share of the struggling department store group. The sportswear giant controlled by billionaire Mike Ashley said yesterday that it has sold its entire 4.6 per cent interest [...]
Bottom Line: Sports Direct designs on retailer will pay off January 13, 2014 AMID yesterday’s M&A frenzy, which saw billions of dollars changing hands across the world, Mike Ashley’s move for a £46m stake in Debenhams looks like small fry. But as the inimitable Geordie has proved in the past, he’s not a man to be underestimated. Though not an immediately obvious fit, there are certain parts of [...]
Ashley swoops on Debenhams January 13, 2014 MIKE ASHLEY’S Sports Direct is set to meet with the board of Debenhams after the sportswear giant made a surprise swoop on the struggling retailer and snapped up a 4.6 per cent stake. Neither of the companies commented on when the meeting was likely to take place, but both sides said they were open to [...]
Ashley scores in the weird world of business tiffs December 15, 2013 MIKE Ashley is not happy with Adidas, after the German sports company refused from next season to let Ashley’s retail giant Sports Direct sell its replica Chelsea kits – incidentally one of Sports Direct’s bestsellers. Ashley is understandably miffed, and it has even been suggested the billionaire plans to build a hostile stake in Adidas [...]
Sports Direct on the sidelines as Adidas kicks off December 12, 2013 SHARES in Sports Direct fell more than 12 per cent yesterday despite a rise in pre-tax profits, after disappointed investors were denied the upgrade to target that they were expecting. Sports Direct, which was promoted to the FTSE 100 in September, reported a 23.5 per cent rise in revenues to £1.35bn in the six months to [...]
Bottom Line: Half-time break for high flyer December 12, 2013 BEFORE yesterday’s slump, shares in Sports Direct had risen by more than 90 per cent so far this year. Six years after its flotation at 300p, even early investors in Mike Ashley’s empire have more than doubled their money – while those that were brave enough to buy in when it fell to 32p in [...]
Collins makes a good start at KPMG but the hard part’s to come December 15, 2013 This probably hasn’t been the easiest year to be the top dog at one of the country’s big four accountancy groups. The industry is still wracked with self doubt as to whether it should or could have spotted the problems that led to the financial crash earlier, and, to make matters worse, the Big Four [...]
Ashley offloads shares as Sports Direct reports 15pc jump in sales October 23, 2013 GOLDMAN Sachs said yesterday it would sell up to 16m shares in Sports Direct acquired from the retailer’s founder and deputy chairman Mike Ashley, after the retail chain reported strong sales for the second quarter. The bank said it would sell the shares to institutional investors, with bookbuilding starting immediately. The announcement came after Sports [...]