Sports Direct Share Discussion Threads

[bolador] 23/9/2016 11:29

The twenty pence rise on this mornings news seems a bit OTT.Perhaps a few bears got forced to close like they did on the quick trip to 360 and back the other day.Lets se how long they stay above 300p.

[ashbox] 23/9/2016 11:17

Dave Forsey's probably got quite a few which he might decide to sell!

[extrader] 23/9/2016 10:45

Hi mongrels3,

Doh ! Quite right. I must be having a senior moment !

ATB

[extrader] 23/9/2016 10:44

Hi mongrels3,

Doh ! Quite right.

ATB

[mongrels3] 23/9/2016 10:35

Have they not been buying back shares every day for the last 4 days??

[extrader] 23/9/2016 10:27

Hi again Terminator,

Of course, it may be that today's RNS reporting replacement of CEO - being somewhat 'price-sensitive' - may just have forced SPD to stay its hand....

Let's see what the next few days bring !

ATB

[terminated] 23/9/2016 10:13

Extrader: I'm aware they have put in place approval to buy back shares, and i agree they have the funds to do this, but as they don't seem to have bought any, my conjecture that they seem reluctant to part with the cash would be correct.

[extrader] 23/9/2016 09:00

Hi terminated,

Of course they could just be reluctant to part with cash unless absolutely necessary.

SPD announced the share buyback barely 2 weeks ago, for up to 5% of the co's shares or £89 M, whichever comes first, between now and 21st October (according to the RNS).

The company has no apparent shortage of liquidity.

Your conjecture doesn't seem to square with the facts.

ATB

[alex1621] 23/9/2016 08:07

Why pick on SPD? There are plenty of other non Union employers out there. A public company will always be under attack from unions and activists, the question is how do management deal with it? You research the problem, fix it, make your apologies and make sure the world knows your a responsible employer.SPD failed to kill the problem dead ... they've allowed it to get out of hand. That's down to management failure. In my view, an unnecessary self-inflicted wound.

[alex1621] 23/9/2016 07:35

Ashley appointed CEO?

[terminated] 22/9/2016 14:35

Mmmmm then ts's not a good thing they are not buying at this level, it might suggest that they see it dropping further on forthcoming bad news. Of course they could just be reluctant to part with cash unless absolutely necessary.

[extrader] 22/9/2016 10:06

Hi Terminated,

The rules are here Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016. , Articles 3 and 4.

Companies have to report at least every 7 days on each day's buybacks. In most cases, companies report every day that they deal. See TNI, for example, who also have a buyback programme in place. They're now leaving it to the house broker to handle on their behalf.

HTH

[bookbroker] 22/9/2016 09:15

Another profits warning definitely on the cards here, sentiment crushed, earnings to be impacted by currency, and trading damaged by poor corporate governance, SPD likely to be punished by shoppers for Ashley's indiscretions, he believes he is not accountable, and appears to exist in a state of denial and hubris judging by his attitude! He might be a dude, but the co. will pay the price!

[terminated] 21/9/2016 19:05

SPD have to be buying back at this price. What do you mean they have to disclose in a timely manner? I assumed once they have permission to purchase up to the value of £89m they can do that anytime they wish and only need to inform once they have reached the limit?

[blackbear] 20/9/2016 15:27

Nice reversal today should scare off a few shorters.

[nortic 007] 20/9/2016 13:09

Thanks Extrader. Really good to hear your thoughts.

[extrader] 20/9/2016 11:26

Hi Nortic 007,

Think you were right re 'lager' purchases ;->.....

Per the 9 Sept RNS The buyback will be conducted in compliance with the relevant conditions for trading, restrictions regarding time and volume, disclosure and reporting obligations, and price conditions.

They have to disclose in a timely manner, so I think you're right to assume that the bulk of the buys were 3rd party.

ATB

[nortic 007] 20/9/2016 07:30

Larger purchases.....sorry

[nortic 007] 20/9/2016 07:20

Just read the announcement which could be seen as a positive this morning. I also noticed a later announcement about the share buyback . Only a small number was bought back but the volume was over 6m yesterday . Would this suggest that some else is buying them or is there a delay on lager purchases being announced ?

[nortic 007] 19/9/2016 17:33

As regards to the drop today there's one big seller in the market but it looks like they're getting mopped up by SPD. One's the seller is finished I would expect to see a sharp rally in the share price. Possibly tomorrow but let's wait and see. JD sports on P/E of 23 SPD on a P/E of less than 8 after share buy back. SPD looks a better value play on those terms .

[terminated] 19/9/2016 16:02

Sports Direct will always have a place on the high street, they are stack em high sell em cheap but they also provide a service people want and at a very good price. MA has taken a personal hit and he will get this share back over 500p a share in the next 12 months imo.

[swampydrill] 19/9/2016 11:58

In this day and age, people are always going to be needing to visit SPD, people have less spare cash as cutbacks keep happening.

[weemonkey] 19/9/2016 11:13

How does any of this affect the sale of cheap socks/trainers/jeans/tennis rackets?

Not a jot I think....

[nortic 007] 15/9/2016 17:04

Nice rally at the end. Reloading buyer from 280 level upwards. Could be company buying them back.Goldman Sachs 275 target (sell)Citi 340 target (hold) down from 360