Sports Direct share price tumbles after Mike Ashley sells three per cent stake January 21, 2015 Sports Direct shares have fallen over five per cent in this morning's trading after Goldman Sachs revealed yesterday that it was selling a 2.57 per cent stake on behalf of company founder Mike Ashley. Ashley’s holding in the UK’s biggest sports retailer has been cut down to 55 per cent following the placing of 15.4m [...]
Newcastle United owner Mike Ashley to raise £117m from Sports Direct share sale January 20, 2015 Goldman Sachs is selling up to 15.4m ordinary shares in sports retailer Sports Direct on behalf of founder and deputy executive Mike Ashley. In a statement the investment bank said it would immediately start selling the shares by way of an accelerated bookbuild to institutional investors. At today’s closing price of 751p per [...]
Christmas comes early in the Singleton house: Sports Direct non-executive director gives wife £244,300 in shares December 22, 2014 A non-executive director at Sports Direct has given £244,300 worth of company shares to his wife “by way of gift”. In a company announcement made earlier today, the British retailing group revealed that David Singleton gave 35,000 of the shares to Elizabeth Singleton. The shares, each worth 698 pence, were held beneficially by him. [...]
Sports Direct brushes off England’s early World Cup exit but results show even Mike Ashley can’t predict the weather December 11, 2014 Sports Direct has brushed off England's disappointing World Cup performance but it seems owner Mike Ashley is not immune to the unseasonal weather. The figures Group revenue rose 6.5 per cent to £1.4bn in the six months to 26 October. Underlying earnings before interest, taxes, depreciation, and amortisation rose 11pc to £203.1m, excluding charges related to the [...]
Sports Direct kicks back at Ed Miliband for zero-hours contract criticism November 15, 2014 Sports Direct has dismissed negative comments made by Labour leader Ed Miliband about its employment contracts. Miliband said the use of zero-hours contracts – where the retailer does not have to guarantee regular work to its employees – meant it was a “terrible place to work”, and added that he intends to “ban the [...]
Mike Ashley’s Sports Direct gives up naming rights to Rangers Ibrox Stadium and loans club an extra £1m November 12, 2014 Mike Ashley has given up his rights to rename Rangers football club’s Ibrox stadium and loaned the struggling club an additional £1m. The Sports Direct owner, who also owns a stake in the Scottish club, bought the naming rights two years ago for just £1, but the deal was only revealed in September. The miniscule [...]
Sports Direct converts its Debenhams stake to put option – and increases its exposure to 12.7 per cent November 6, 2014 Mike Ashley has done it again. He's converted his standard investment (or “investment” as we call it) in Debenhams into a put option, increasing his exposure to the department store along the way. The move, which is actually taking place through Ashley's retail giant Sports Direct, involves disposing of the 4.6 per cent stake taken [...]
Sports Direct “to be held to account” over zero-hours contracts October 28, 2014 Sports Direct is being forced to make clear its zero-hours contracts do not guarantee work as part of a wide-reaching set of legally-binding promises agreed after an employee took legal action against the retailer. The Mike Ashley-owned business, which currently employs around 20,000 staff on the controversial contracts, has agreed to re-write its job [...]
Sports Direct now owns 11 per cent of Debenhams October 2, 2014 Sports Direct has just upped its exposure to underperforming department store chain Debenhams, buying a further £33m-worth of shares. The move comes months after the Mike Ashley-owned retailer took its original punt on the high street business, which was ultimately converted into a put option valued at £64m. The new investment equates to a 4.6 [...]
Sports Direct’s share price tumbles after Tesco investment September 26, 2014 Shares in Sports Direct were down again this morning, following founder Mike Ashley's decision to take out a put option on Tesco yesterday. The retailer's share price has reached a low of 610p, having opened at 636.5p. It continued a tumble that started yesterday, when shares reached a high of 670p. Is it [...]