Debenhams target share price cut by Investec due to post-Brexit foreign exchange concerns and an expected slowdown in UK demand July 20, 2016 Brexit is beginning to bite for retailers. Investec this morning said Debenhams face a "foreign exchange headwind" that will hit the department store in 2018. Read more: Debenhams raids Amazon for new chief executive Retail analyst Kate Calvert cut Debenhams' target share price to 52p. The cut comes after analysts expressed concerns about Sports Direct at the beginning of the [...]
Sports Direct’s share price suffers as analysts say company will be hit hard by Brexit July 8, 2016 After a surprisingly healthy day of trading yesterday, Sports Direct's share price fell this morning after analysts cut the retailer's earnings per share (EPS). Liberum analysts said today that they have cut 35 per cent from Sports Direct's projected EPS in 2017, increasing to a 37 per cent reduction in 2019. Read more: Sports Direct calls its financial [...]
Sports Direct’s share price had its biggest increase since 2009 despite terrible results July 7, 2016 It's been a very weird day for Sports Direct. [stockChart code="SPD" date="2016-07-07 14:34"] The retailer's shares climbed by 16 per cent at their peak today – despite the company posting "disappointing" results, with annual profits down 8.4 per cent. Even the company's chief executive, Dave Forsey, admitted the situation was bad. Forsey said: "The group has delivered a disappointing full [...]
How Chris Coleman used Rafael Benitez’s preferred tactics tool to guide Wales to the semi-finals of Euro 2016 July 7, 2016 With 10 players in his squad playing in England's second or third tiers last season, the onus was on Wales manager Chris Coleman to be a man with a specific tactical plan if his side were to achieve something special at Euro 2016. His side may have fallen narrowly short of the ultimate prize following a 2-0 [...]
Sports Direct share price jumps as it calls its financial year “disappointing” as pre-tax profit plummets July 7, 2016 Sports Direct delivered, in its own words, a disappointing year, pushing its sales up by just 0.6 per cent Its share price jumped over 11 per cent in early morning trade on the results, which were actually better than many expected. The figures Sports Direct posted group revenue of £2.9bn for the year ended 24 [...]
City Moves for 7 July 2016 | Who’s switching jobs July 7, 2016 Marsh Insurance broker Marsh has appointed Jeremy Cooke as vice chairman of global placement. In his new role, Jeremy will focus on critical growth areas including complex market negotiations on facilities, quota shares and key accounts. He was previously head of placement for Marsh’s international division. Prior to joining Marsh in 2003, he held senior executive positions at insurers in the US and [...]
Week ahead: Brexit fears set to hang over FTSE earning reports July 4, 2016 The market is bracing itself for a slew of Brexit induced profit warnings this week as we enter the early stages of reporting season. After the UK’s shock vote to leave the European Union triggered a sharp sell off, the FTSE 100 has rebounded strongly – pushed on by international earners. The blue-chip index ended [...]
A dramatic year for Sports Direct is expected to be capped-off with shrinking profits July 3, 2016 The story of Sports Direct’s year will be laid out in numbers this week, as it releases its annual results on 7 July. The retailer has lurched from one drama to another since the end of 2015. Analysts expect earnings of £372m – slightly lower than the latest company guidance of £380m. It will probably [...]
Mike Ashley is looking to make himself the chairman of Findel July 1, 2016 Sports Direct boss Mike Ashley is looking to become chairman of gift retailer Findel, a company Sports Direct owns a 30 per cent stake in. Sky News reported Ashley is talking to the board of Findel about the move over the past few weeks. Ashley, who recently admitted to MPs that he couldn't control Sports [...]