Sports Direct share price falls despite revenue rising 4.7 per cent July 16, 2015 The figures Shares in Sports Direct fell 0.48 per cent to 731p per share in early morning trade. The company said group revenue rose 4.7 per cent to £2.83bn in the year to April 2015, from £2.71bn in 2014. It was helped by its "sports retail" and "brands" sectors, which rose 5.5 per cent and [...]
Rangers shareholders vote against immediate repayment of Mike Ashley’s £5m loan June 17, 2015 More than half of Rangers' shareholders have voted against paying back Mike Ashley's £5m immediately. The Sports Direct founder and owner of Newcastle called a meeting at Ibrox on Friday – which he did not attend personally – seeking repayment of the loan as well as an explanation for why the club had delisted from [...]
Rangers EGM: Mike Ashley fails to show as Dave King argues against £5m loan repayment June 12, 2015 Rangers shareholders have voted on whether the club should repay a £5m loan to Mike Ashley at an extraordinary general meeting called by the Sports Direct owner this morning. Ahead of the vote chairman Dave King told shareholders that repaying the loan to Ashley, who owns an 8.9 per cent stake in Rangers through MASH [...]
Mike Ashley steps down from Newcastle board after demanding Rangers repay £5m loan June 10, 2015 Mike Ashley has stepped down from the Newcastle United board of directors and will be replaced by newly appointed head coach Steve McClaren. Former England manager McClaren has signed an initial three-year deal with the Tyneside club, after being sacked as Derby County manager last month. By combining coaching duties with boardroom duties, McClaren will [...]
Mike Ashley’s Sports Direct hires Matt Pearson as new finance boss after 18 months… but he’s only “acting” June 4, 2015 It's taken 18 months and some serious shareholder pressure, but Sports Direct has finally appointed a new finance boss… although only on an interim basis. The Mike Ashley-owned retailer has today promoted Matt Pearson to the role of acting chief financial officer with immediate effect. He also joins the board. Pearson was group [...]
Mike Ashley adds MegaValue.com high street store to Sports Direct business June 1, 2015 Mike Ashley rarely sits still. With his ownership of the beleaguered Newcastle United dominating the headlines, the Sports Direct owner has quietly added a new high street business to his interests. Read more: Rangers and Sports Direct boss Mike Ashley has too much power, says IoD The subtly-titled MegaValue.com is a new discount store that recently appeared [...]
Mike Ashley’s Sports Direct share price rises after raising profit outlook May 28, 2015 Sports Direct's share price shot up more than four per cent ahead after upping its profit forecast for its most recent financial year, ahead of its AGM today. The sportswear retailer's employees and major third party suppliers will gather to hear updates on the group's current and future performance, raised its profit and earnings outlook for [...]
Mike Ashley’s Sports Direct HQ raided by police investigating former Rangers owners May 6, 2015 Scottish police have raided Mike Ashley's Sports Direct headquarters as part of a two-year investigation into two takeovers of Rangers football club. Mike Ashley owns an 8.6 per stake in Rangers, whose previous owners Craig Whyte and Charles Green are the subject of the investigation that led police to Sports Direct's Derbyshire base. In a statement [...]
Sports Direct allegations leads to shopper snubs on the High Street – Brand Index May 5, 2015 With sales booming and a healthy share price reflecting their success, everything on the surface looks rosy for retail giant Sports Direct. However, a Channel 4 Dispatches programme aired last week made allegations of a far more salacious nature. Workers on controversial zero-hours contracts were said to be shamed over a tannoy system for a [...]
Sports Direct’s put options in Debenhams are starting to expire – but did Mike Ashley’s bet pay off? April 30, 2015 Sports Direct's put options are starting to expire. The question on everyone's lips is, did Mike Ashley's bet pay off? The retailer, which first took a punt on the struggling department store in 2014, has gradually increased its stake in Debenhams to 16.6 per cent back via a series of put options. A put gives [...]