limeburner 0 Posted March 23, 2016 Share Posted March 23, 2016 Exclusive night viewing for high end customers is probably coming to an end as well. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,423 Posted March 23, 2016 Share Posted March 23, 2016 Sports Direct considering having a sale Bastard! Took me a while before I realised the source of the article. 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,597 Posted March 23, 2016 Author Share Posted March 23, 2016 Sports Direct Sees £400m Wiped Off Value Shares plunge further after the retailer seeks to clear up comments on trading by founder Mike Ashley in a newspaper interview. Mike Ashley's Sports Direct empire has seen shares slump for a second day after the business issued a "clarification" on profits following media interviews given by its controversial founder. The stock fell by more than 5%, adding to a decline of more than 10% in the previous session. It means the company has dropped by more than 15%, seeing around £400m wiped off its value, since Mr Ashley's interviews with a series of outlets including Sky News on Monday. The interviews saw the tycoon come out fighting over demands by MPs to quiz him on working conditions. Mr Ashley, who also owns Newcastle United football club, called the parliamentarians "a joke" and reserved particular scorn for arch-critic and former Labour leader Ed Miliband, saying he would like to "box his ears". But shareholders were taken aback by the strength of his remarks on how badly the controversy had affected the group's performance, after he told The Times: "We are in trouble, we are not trading very well. We can't make the same profit we made last year." The comments sent Sports Direct's shares more than 10% lower on Tuesday prompting it to issue a clarification a day later "in the light of recent press coverage" - but it only saw shares fall again. It said earnings for the full year to the end of April would be "at or around the bottom of the range" it had set out in January - when it had set out a profit warning that saw forecasts trimmed, blamed on unusually mild weather over the Christmas period. Now, Mr Ashley appears to have placed the blame firmly with his critics. He said in his newspaper interview: "We are supposed to be taking the profits up, they are not supposed to be coming down, and the more the media frenzy feeds on it, the more it affects us." Shares in Sports Direct are now worth less than half of their value at the start of December, with the plunge seeing the group relegated from the FTSE 100 Index of the top UK-listed companies. The company has defended the way it treats its workforce after a Guardian investigation into conditions among its warehouse staff. Mr Ashley's latest intervention came as he faced the threat of being held in contempt of Parliament for refusing to appear before the Business, Innovation and Skills select committee to answer questions about the issue. http://news.sky.com/story/1665703/sports-direct-sees-400m-wiped-off-value 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,088 Posted March 23, 2016 Share Posted March 23, 2016 It's almost as if he's trying to drive the price lower. 0 Quote Link to post Share on other sites More sharing options...
boabie 230 Posted March 23, 2016 Share Posted March 23, 2016 It's almost as if he's trying to drive the price lower. For somebody like Green, Ellis or Whyte to hoover up at bargain basement prices. No matter what happens in the future I sincerely hope this guy ends up another Gerald Ratner. 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,410 Posted March 24, 2016 Share Posted March 24, 2016 (edited) The Rangers board will be watching the current SD situation with interest. And not just for the well documented reasons. SD's collapse ( and it is a collapse) has seen the value of the company half in just over six months. It was the worst performing FTSE100 company by far. Ashley's own SD shareholding has gone from something like £3bn to £1.5bn and is still falling. How does this affect Rangers ? Well what if things get so bad what if they can't supply Rangers merchandise? Longterm that may be beneficial and allow Rangers to get out of those contracts but we really need Rangers to get out long before that happens. I'd suspect the Rangers board are fully aware of this. And the PUMA deal. Am I the only one who thinks it's more than coincidence Rangers & Newcastle both wear PUMA? Isn't Ashley a major shareholder in PUMA? If SD were to go to the wall how would this contract be affected. I've long since been against it because it pays peanuts but if the board could renegotiate it and endorse it to the supporters it might be worth more to us. All in all interesting days ahead Edited March 24, 2016 by RANGERRAB 0 Quote Link to post Share on other sites More sharing options...
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