Sports Direct Share Discussion Threads

[nortic 007] 07/3/2017 09:23

Should see some good volume today 6-7m I imagine .

[nortic 007] 07/3/2017 09:18

SwampydrillTiming is everything !!!

[swampydrill] 07/3/2017 09:12

Glad i sold half yesterday

[discodave4] 07/3/2017 08:53

Profit warning earlier than I thought.No hedging in place yet again......complete idiots.

[nortic 007] 07/3/2017 07:25

Looks like they'll be easier first thing on that announcement. I'll be interested to see how they respond throughout the day. Just when you thought they were boring.....

[nortic 007] 06/3/2017 23:35

Top investor: Why I'm sticking with Sports Direct shares Top investor: Why I'm sticking with Sports Direct shares Mundy sees value in Sports Direct sharesThe Temple Bar Investment Trust has returned 31 per cent over the past year, compared to 16 per cent for the average fund in the AIC UK Equity Income sector in the same time period.Mundy commented, 'We recently met with the management of one of our poorest investments. The company is now what can perhaps euphemistically call a 'recovery' stock and poor trading has necessitated a change in strategy. The management explained, as they tend to in these situations that the nettle had now been grasped, changes were afoot, lessons learnt and consequently they were cautiously optimistic for the future. The clichés were flying across the table, but one point that interested us was whether the management were following the optimal path to execute a turnaround. We enquired if they would behave any differently if the company was not listed on the stock market. The answer, whilst not surprising, was however a touch depressing. They admitted that under different ownership they would very likely act with greater urgency. Their argument, although not verbalised, was that such dramatic change would result either in short-term performance so bad as to jeopardise their jobs or to attract the unwanted attention of predators eager to secure the company at a low price.'Read more: Alastair Mundy: Why I've been buying Sports Direct Shares He continued, 'It is possible to have some sympathy with the management's view except that they appear to have reached their decision on execution speed without consulting shareholders. It seems that management has justified to themselves that the risk of a slow painful death is preferable to the risk of a particularly ugly, say, six months of extreme restructuring. Given shareholders usually invested in such deep value plays typically have strong stomachs, management in this type of situation could be rather more alert to their desires.'Sports DirectHe continued, 'But not all management teams react in this way when their business reaches a tipping point. Sports Direct has experienced a dreadful year. Much has been made of the unacceptable working conditions in the company's main warehouse and of the company's corporate governance in general, whilst trading in the company's stores has deteriorated quite significantly and the company's major brand suppliers such as Nike and Adidas have demanded that the Sports Direct stores should be smarter if they are to supply the company with their most popular products.'He continued, 'Mike Ashley, the company's founder, majority owner and chief executive has responded with almost manic enthusiasm. He has accepted that much needs to be done and has responded by launching a freehold property buying frenzy, committing to refurbishing the stores and withdrawing from the pile it high, sell it cheap policy that has previously served the company well. Ashley, is quite happy to admit that he has no idea if this strategy will prove successful, but feels he has no choice and that speed is of the essence. Perhaps it is however telling that Sports Direct is very much Ashley's baby (something for which he is often criticised). As owner of about half of the company he has plenty of skin in the game and therefore is doing, we must assume, what is necessary to protect (and grow?) his investment.'Mundy continued, 'Whilst shareholders may be concerned that he openly questions the new strategy, there can be little doubt that he is totally committed to it.'The £1 billion Temple Bar Investment Trust trades at a discount to net assets of 2.8 per cent.Sponsored Content

[nortic 007] 06/3/2017 23:35

Gentlemen FYI

[discodave4] 06/3/2017 20:27

Buy back will be extended April until the full 86m has been bought, MA's not stupid, increase his % holding using company funds, July warning share price loses support he takes it private dirt cheap.......bish bush wallop.All IMO of cause.DD

[nortic 007] 06/3/2017 16:22

All in the price. You're buying for the recovery .

[swampydrill] 06/3/2017 16:20

There are always sellers with many reasons for selling.

[nortic 007] 06/3/2017 16:19

He'll take it private by making a premium bid for what will be 20-25% of the company. Then the institutions that sold out will have a good old cry about it.

[nortic 007] 06/3/2017 16:15

The free float is a bulls paradise and a bears nightmare !!

[nortic 007] 06/3/2017 16:04

MA will take great pride in ripping these boys out at the bottom . Even the papers scaremongering last week about MA recent purchase only had a short term affect and they ended up better on the day.

[nortic 007] 06/3/2017 16:01

There's an old saying in the City" sell them when you can not when you have to".

[deanowls] 06/3/2017 15:57

Why will it drop, there are only so many sellers.

When people realise the assets, lack of debt and continued profits the company make, they will buy. As bad as mike is perceived as being, he certainly isn't stupid.

[nortic 007] 06/3/2017 15:57

The seller or sellers are selling because they can.

[swampydrill] 06/3/2017 15:52

Well his buying is keeping it where it is,so when he stops buying i guess it will drop. Saying that, why keep buying if you know it will drop when you stop.

[nortic 007] 06/3/2017 15:14

Ashley knows what he's doing and who the sellers are.

[the_equaliser] 06/3/2017 14:42

Not till the shares have been bought back
Then it will be
but who knows which way

[swampydrill] 06/3/2017 14:33

This is not going above 300p anytime soon

[nortic 007] 06/3/2017 07:13

Only 390,000 bought back on Friday.

[the_equaliser] 05/3/2017 15:55

Nice recovery towards EOD

[nortic 007] 03/3/2017 16:44

That's a good day in my book. Another load of twitchy sellers out.

[ashbox] 03/3/2017 14:06

Must be time for this again!



Can all the shareholders in the room please stand up?