Sports Direct has had an annus horribilis, raising questions about Mike Ashley’s game plan December 6, 2016 SPORTS Direct has had an annus horribilis, from being slammed by MPs for working conditions in Derbyshire that resemble a Victorian workhouse to a share price plunge of 47 per cent in the year to date. Corporate governance has been an issue. Mike Ashley, a dominant founder and shareholder, is now CEO. The retailer has [...]
Sports Direct has had an annus horribilis, raising questions about Mike Ashley’s game plan December 5, 2016 NULL
Private equity groups circle Oasis, Warehouse and Coast December 4, 2016 Private equity groups are reportedly interested in buying up fashion brands Warehouse, Oasis and Coast, also known as the Aurora Fashion Group. The group recently appointed PwC to conduct a "strategic review" for the business, and is thought to be seeking a sale worth £100m. Read more: MPs pay surprise visit to Sports Direct's Shirebrook warehouse [...]
Sports Direct is in the hot seat again this week December 4, 2016 Sports Direct will be in the spotlight again this week as it reports its interims on Thursday. Analysts are predicting chief executive Mike Ashley will announce a profit fall of 25 per cent to £170m. The City will also be looking for signs that Sports Direct is improving its corporate governance, something the retailer promised to focus [...]
In Theresa May’s exec pay crusade, the devil will be in the detail November 29, 2016 It’s positive to have a Green Paper to allow a proper debate; the detail of legislation – and amendments to it – will matter a lot. It will be particularly interesting to see the detail of how extending the “comply or explain” Governance Code to private companies will operate. The system presently works with public [...]
Businesses back May’s tweaked approach to governance as green paper hints at fresh u-turns November 29, 2016 Businesses have welcomed new proposals on corporate governance which appear to show Theresa May continuing to tweak her stance on the sector. The widely-trailed plans included proposals to make publicly-listed firms publish pay ratios, and introduce a form of representation on public boards. But May had already backtracked on forcing firms to directly hand workers non-exec [...]
Sports Direct accounts probe announced by watchdog November 28, 2016 The accountancy watchdog has today launched an investigation into Sports Direct, probing into claims surrounding the relationship between the retailer and a firm run by chief exec and founder Mike Ashley's brother. In particular, the Financial Reporting Council (FRC) is taking a closer look at the accounts for the 52 weeks to 24 April and whether [...]
Black Friday 2016: Five fitness and activewear-tastic bargains to snap-up, stay fit and stay warm November 24, 2016 Usually the time to think about getting fit is after you have plumped yourself up full of turkey and Christmas pud… not before. But there are a bundle of Black Friday activewear deals out there so you can get a headstart on a healthy 2017. Or at least, grab a bargain that will stay in its box until your return to [...]
Retailers’ share prices stung by the rise in the national living wage in the Autumn Statement November 23, 2016 Retailer's share prices are suffering this afternoon after chancellor Philip Hammond said the national living wage would rise in April next year. The national living wage hourly rate will increase from £7.20 an hour £7.50 an hour in 2017, Hammond said. Read more: The National Living Wage is going up again next April The change [...]
Leicester City’s Premier League title win delivered £140m to the local economy – and this year it will be even more November 21, 2016 Leicester’s Premier League title triumph contributed £140m to the local economy during 2015-16, according to a new study, and that figure is expected to rise again this season. The Foxes’ historic 5000-1 success delivered a total economic output of £193m, generated taxes of £78m and supported 2,500 jobs, the report by EY for the club [...]