Bottom Line: Reward scheme pays off for all July 18, 2013 AS PROFITS at Sports Direct soared by 40 per cent yesterday, chief executive Dave Forsey waxed lyrical about how important the group’s employee incentive scheme had been in driving performance. Even if you’re not one of the 2,000 staff getting three times their salary in shares later this month, it’s hard to argue with his [...]
Horology on the high seas July 18, 2013 Regatta watches – which come with special yacht racing functions – will be on show in San Francisco Bay for the America’s Cup, reports Tracey Llewellyn OF all the various genres of sports watch – diving watches, motor sports watches, polo watches, straight chronographs and more – perhaps the most esoteric is the regatta watch, [...]
Sports Direct’s profits surge 40 per cent July 18, 2013 BRITISH retailer Sports Direct today unveiled a 40 per cent rise in pre-tax profits to £207.2m, in what chief executive Dave Forsey called a "record-breaking year for the group and for British sport". The sporting goods vendor posted a 20.9 per cent increase in revenue to £2.19bn. Online revenue grew by 52.1 per cent, now [...]
Year of British sport contributes to record results for Sports Direct July 18, 2013 Sports Direct International has reported a 21 per cent increase in annual revenues and a 40 per cent boost in underlying pre-tax profits for the 52 weeks to 28 April 2013, Group revenue in the period was £2.19bn, up from £1.84bn the year before, driven largely by a 17.3 per cent boost in its UK [...]
Before the open – 18/07 July 18, 2013 Chinese shares fell last night amid ongoing concerns that the government will extend property curbs and reduce the finance available to developers continued to weigh on Chinese markets. However, sentiment was boosted somewhat by US Federal Reserve chairman Ben Bernanke’s comments yesterday indicated he will remain dovish on monetary policy and that asset purchases “are [...]
Taking the Michael February 27, 2013 AS ALAN Shearer and John Barnes have proved, a good player does not a good pundit make, but former England cricket captain Michael Vaughan was instantly at ease on screen. Always immaculately turned out, I wonder how he chooses what he wears. “I just wear all my own stuff,” he says, referring to his tailoring [...]
Ashley offloads a £100m stake in Sports Direct February 26, 2013 SHARES in Sports Direct fell six per cent yesterday after founder Mike Ashley sold £100m of his majority stake in the sports retailer, taking the market by surprise. Ashley sold 25m shares at 400p, a seven per cent discount to Monday’s closing price, in an accelerated bookbuilding run by Goldman Sachs. The book was two [...]
Sports Direct’s profits continue winning streak February 22, 2013 SPORTS DIRECT has shrugged-off any signs of gloom on the high street after posting a 23 per cent rise in third quarter profit yesterday. The sports retailer, controlled by Newcastle United owner Mike Ashley, said group sales for the 13 weeks to 27 January rose 21 per cent to £589.5m, driven by strong growth in [...]
Analyst Views | Did Sports direct’s results meet your expectations? February 22, 2013 FREDDIE GEORGE | CANTOR FITZGERALD The company continues to benefit from recent acquisitions, strong momentum with the internet and capacity coming out of the market. The stock, however, is expensive … but with newsflow on sales expected to remain positive, we believe the shares will continue to perform. PHILIP DORGAN | PANMURE GORDON Sports Direct [...]
THE TIPSTER: KINGFISHING FOR A FIX February 18, 2013 THE challenging consumer backdrop doesn’t augur well for Kingfisher, and this will show when the retailer issues its trading update on Thursday. Shares have traded within a range between 270p and 290p for the last year. But some in-house refurbishments, like improving cost structures and gross margins, may be just the fix it needs. ETX [...]