Rio 2016: As non-sponsoring brands get more scope to cash in on Olympic fever, official partners may be getting a bum deal August 8, 2016 Rio 2016 may have be tainted by doping scandals, the threat of the Zika virus, and worries of violence, but if you’ve got the money, sponsoring the Olympics seems like a no-brainer. Around 3.6bn people saw at least one minute of London 2012, and Rio’s audience is expected to be even bigger still, providing the 11 [...]
Consolidation is the name of the game for Mike Ashley as he see revenues increase by 20 per cent August 7, 2016 Mike Ashley's businesses generated nearly £3bn of revenues during the year to April 2015 latest filings at Companies House have shown. The Newcastle United owner consolidates his business operations into MASH Holdings Ltd – a company in which he is the sole shareholder. Its financial statements were filed on 27 July 2016. Ashley took out further lending [...]
High street sales flat in July despite retailers peddling giant discounts August 5, 2016 Retail sales were flat in July despite outlets trying to haul shoppers to the till with massive discounts. Shops have been tempting consumers with discounts as high as 70 per cent – Sports Direct is now having a "flash sale" offering discounts of up to 90 per cent – but there has been no growth in year-on-year [...]
Two Champions League winning managers, a wealth of ambitious foreign owners and exciting England prospects – whether you support Leeds or Newcastle, the Championship can be relied on for entertainment August 3, 2016 Tomorrow a football competition starts in London featuring ambitious and enigmatic billionaire owners from across the globe, a cosmopolitan array of managers — including two Champions League winners — and some of the most exciting young players in England. But this isn't the Premier League. It is, of course, the Championship. English football’s second tier [...]
Findel has refused to make Mike Ashley chairman July 29, 2016 Mike Ashley has failed to bag the chairmanship of gift retailer Findel – but the company said this morning that "discussions are ongoing." The company wants to agree to a deal with Sports Direct to act as an outlet for the sports shop's brand, but hasn't made Ashley chairman. Read more: Mike Ashley is looking to make himself the chairman [...]
Sports Direct’s share price soars as it announces £90m share buyback July 28, 2016 Sports Direct's share price was up 13 per cent this morning after the company announced a £90m share buyback. The buyback represents roughly five per cent of the fitness retailer's share capital and will be taking place in the lead-up to the company's annual general meeting (AGM) on 7 September. Read more: Four of the most jaw-dropping [...]
Calls grow for major reform of business governance and pay ratios July 26, 2016 British business is facing fresh pressure to undergo major reform, with Prime Minister Theresa May pledging to overhaul capitalism and revamp corporate governance. The influential Institute of Directors (IoD) has added to the clamour for change by calling for a review of corporate governance, while the Investment Association will today call for greater pay disclosure [...]
Prime Minister Theresa May wants to reform capitalism, according to Number 10 July 25, 2016 Prime Minister Theresa May wants to reform capitalism in the wake of the parliamentary inquiry into the collapse of BHS. A spokesperson for May said the Prime Minister wants to "tackle corporate irresponsibility and reform capitalism to make sure it works for everyone not just the privileged few". Read more: Seven numbers explaining the demise of [...]
These companies have been the FTSE high-fliers and fallers since the referendum July 23, 2016 With all that's happened since 23 June, it's hard to believe it's only been a month since the UK came out in droves to vote in the EU referendum. While the FTSE 100 closed up 0.46 per cent yesterday in its fifth successive weekly advance, a number of companies on both the FTSE 100 and [...]
MPs slammed Mike Ashley today – but have finally accepted his invitation to visit the Shirebrook warehouse July 22, 2016 MPs investigating the working conditions at Sports Direct's Shirebrook warehouse have finally accepted Mike Ashley's invitation to see the site for themselves. Ashley has been desperate for the Business, Innovation and Skills (Bis) committee to visit the warehouse, presumably because he hopes they won't think it's that bad. If you're wondering how bad it was, read this testimony [...]