Sports Direct Share Discussion Threads

[sportbilly1976] 26/7/2019 16:11

on the bbc business page;


Tabby Kinder
@Tabby_Kinder
Texts from senior auditors rolling in on Grant Thornton/Sports Direct accounts delay debacle: "Amateur hour", reads one. Not looking good for relationship between GT and its biggest listed audit client. The firm is already under FRC enforcement over its work for Mike Ashley

[clocktower] 26/7/2019 16:10

debs, maybe Pinocchio will be granted the Blue Fairy wish that Geppetto and Jimmy Cricket asked for. :-)

[debsdowner] 26/7/2019 16:09

Mike Ashley just been seen outside SPD headquarters shouting "anyone got a typewriter ribbon" !

[eggy6198] 26/7/2019 16:09

Results delayed as they are bad very bad... mad to hold at this point

[debsdowner] 26/7/2019 16:06

4 p.m. been and gone never seen anything like this and no one else has.

[debsdowner] 26/7/2019 16:03

clocktower lol

[ltcm1] 26/7/2019 16:02

They will dub it 'House of Failure'.

[clocktower] 26/7/2019 16:01

Cinderella has just lost her shoe!!

[rescuer] 26/7/2019 16:00

Neil Wilson from Markets.com has just done an interview with Sky re SPD he used the words

he believes there will be a "Material Impact on Finances".

[debsdowner] 26/7/2019 15:56

tick tock tick tock

[zztop] 26/7/2019 15:34

In hof it seems he's bought the runt of the litterDebenhams was the better one( best of a bad bunch)

[tony1974] 26/7/2019 15:33

'Utter Shambles' is a perfect way to describe Ashley and his dealings.

[rescuer] 26/7/2019 15:23

'Shambles' as Sports Direct's results delayed


Media captionMike Ashley's High Street empire
There is confusion surrounding the release of results from Mike Ashley's Sports Direct, after the firm failed to publish them early on Friday morning.

In a statement, Sports Direct said it was "still finalising" the results, and would give a further update at 16:00.

It is extremely unusual for results to be delayed in this way. One analyst called events "an utter shambles".

The full-year results have already been delayed once - originally they were due to be reported on 18 July.

At the time, Sports Direct blamed the delay on uncertainty over the future trading performance of the House of Fraser chain, which it bought last year, as well as increased scrutiny of its auditor Grant Thornton. It also indicated that it might not achieve its profits forecast.

'Disregard for shareholders'

UK-listed companies normally publish their results at 07:00, before the London markets open at 08:00. Sports Direct had also been due to give a presentation to investors and media at 09:00.

However, after the results failed to arrive, the firm apologised for the delay and for cancelling the presentation at the last minute.

At midday Sports Direct said it would provide an update at 14:00. Shortly after that time, the company issued a statement that said: "We are still finalising our preliminary results and will update you again at 16:00."


Neil Wilson, chief market analyst for Markets.com, said the events were "a total and utter shambles" that "betrays a number of problems at the business after [Mr] Ashley embarked on his rather random acquisition spree."

"Above all it betrays a total disregard for shareholders," he said

[knigel] 26/7/2019 15:12

Could it be pensions related? (Presuming some of the acquisitions had legacy pension schemes)

[debsdowner] 26/7/2019 15:10

Update at 4 pm lol mad rush the nearer it gets and what a time for results!

But what will happen if they don't have them ready for 4 pm it will be another slump in share price.

Half an hour not long enough to discuss results!

[johnwalton] 26/7/2019 15:00

Late Friday never good news

[qantas] 26/7/2019 14:57

Well I do hope Range Rover disco get to start his old banger.

[rescuer] 26/7/2019 14:53

BBC news - update at 4pm .

[discodave4] 26/7/2019 14:50

Who knows, personally I doubt will see above £3 for a good while.Buyback was only for £45m, c 3.5% of mk cap so not much share price support IMO.

[qantas] 26/7/2019 14:47

debsdowner think I have to agree with you but range rover Disco may not?

[debsdowner] 26/7/2019 14:46

Down 4% market starting to punish SPD on continued delay and no statement at 2 p.m. as promised.

Auditors must not be happy with figures and refusing to sign off.