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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Sports Direct International Plc | LSE:SPD | London | Ordinary Share | GB00B1QH8P22 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 470.00 | 469.20 | 469.80 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
26/7/2019 17:54 | Wow! The rants for bad investment decisions are worse than you'd read on ADVFN! | typo56 | |
26/7/2019 17:54 | No one read the 670 million tax bill | eggy6198 | |
26/7/2019 17:52 | debs - you obviously read a bit quicker than me. | effortless cool | |
26/7/2019 17:52 | Results are a great read! CONSENSUS Our acquisition of House of Fraser as noted above has led to significant uncertainty as to the future profitability of the group as a whole, albeit not impacting the going concern assessment of the group. There are significant operational and investment issues we are trying to rectify based on the appalling mismanagement of House of Fraser, prior to its acquisition by the Sports Direct Group, that led to its downfall. Although we have put significant effort into integrating the business into the Sports Direct operational model, including its processes and KPIs, we are still some way from reaching an operating norm. We cannot yet confirm, or even predict, with enough material accuracy what the overall estate will look like in the near term, and this will depend on a combination of factors including brand allowances, current and projected store performance, and rental deals. To be able to invest in the estate, including experiential, we need to confirm the longer-term estate via freehold acquisitions and longer term leases. We believe this will help drive improved performance through greater brand allowances and increased footfall. Based on this we will not be giving a consensus to the market for FY20 performance. Any projections produced by third parties such as research analysts are not produced on behalf of Sports Direct International plc and Sports Direct International plc takes no responsibility for such projections. As a result prospective investors and other market participants should not treat, and Sports Direct International plc does not intend to treat, the financial projections produced by third parties as indicative of the market expectations of Sports Direct International plc's future financial performance. We specifically note that we are under no obligation to correct estimates made by financial analysts or to inform the market should we come to believe that our actual performance will differ from those estimates. This is not our normal approach, nor a normal approach taken by most listed businesses, however given the current circumstances outlined above we feel it is the correct course of action and it is important that investors understand this current differentiation. We will review the current situation again at the half year and depending on factors mentioned above being resolved to a suitable extent we may be able to give guidance at that point. | effortless cool | |
26/7/2019 17:51 | Concerns: CONSENSUS Our acquisition of House of Fraser as noted above has led to significant uncertainty as to the future profitability of the group as a whole, albeit not impacting the going concern assessment of the group. There are significant operational and investment issues we are trying to rectify based on the appalling mismanagement of House of Fraser, prior to its acquisition by the Sports Direct Group, that led to its downfall. Although we have put significant effort into integrating the business into the Sports Direct operational model, including its processes and KPIs, we are still some way from reaching an operating norm. We cannot yet confirm, or even predict, with enough material accuracy what the overall estate will look like in the near term, and this will depend on a combination of factors including brand allowances, current and projected store performance, and rental deals. To be able to invest in the estate, including experiential, we need to confirm the longer-term estate via freehold acquisitions and longer term leases. We believe this will help drive improved performance through greater brand allowances and increased footfall. Based on this we will not be giving a consensus to the market for FY20 performance. Any projections produced by third parties such as research analysts are not produced on behalf of Sports Direct International plc and Sports Direct International plc takes no responsibility for such projections. As a result prospective investors and other market participants should not treat, and Sports Direct International plc does not intend to treat, the financial projections produced by third parties as indicative of the market expectations of Sports Direct International plc's future financial performance. We specifically note that we are under no obligation to correct estimates made by financial analysts or to inform the market should we come to believe that our actual performance will differ from those estimates. This is not our normal approach, nor a normal approach taken by most listed businesses, however given the current circumstances outlined above we feel it is the correct course of action and it is important that investors understand this current differentiation. We will review the current situation again at the half year and depending on factors mentioned above being resolved to a suitable extent we may be able to give guidance at that point. | debsdowner | |
26/7/2019 17:51 | The Group has been the subject of a tax audit in Belgium and, on 25 July 2019, received a payment notice from the Belgian tax authorities in the amount of ï¿&frac1 | eggy6198 | |
26/7/2019 17:34 | Cooking the books here one suspects, that cash flow has fallen off a cliff | tongostl | |
26/7/2019 17:34 | LOL debs - go puff the magic dragon. :-) | clocktower | |
26/7/2019 17:33 | Hells Bells: HOUSE OF FRASER During the financial year we acquired the trade and assets of House of Fraser for GBP90m, invested close to that to kick start the supply chain and signed up to the GBP95m purchase of the flagship Glasgow Frasers store to show we were serious with our investment and strategy. However, as we have continued to look under the bonnet as we integrate the business, we have found that the problems are nothing short of terminal in nature. Serious under investment in stores and appropriate support services, excessive and unsustainable outsourcing and financing, and selling brands to their Chinese parent shortly before administration are just some of the many problems faced. The previous Chairman, Frank Slevin exemplified city greed and excess, and as House of Fraser's future became terminal with people losing their jobs and with more to follow, Mr Slevin thought it suitable to retain these extravagances not appropriate to a business in its death spiral. There was the widely publicised closure of the website and warehouses as we tried to get the business moving in the first days after the acquisition which meant the business was starting on the back foot as we tried to save jobs and stores. Despite the frustration on our part we understand the position the likes of XPO were put in when being so fantastically out of pocket because of the previous management's mixture of misplaced optimism or worse, downright lies. As well as support services suppliers, the brands within House of Fraser had taken a significant hit when the company went into administration. Again based on either misplaced optimism or falsehoods from House of Fraser management, the brands put more skin in the game than management deserved and paid a price for their loyalty. We had to quickly work with these brands to get the business moving again and restore trust and I am pleased and grateful to say that the vast majority of brands understood we were here to help, our vision for the future, and saw a mutually beneficial opportunity going forward. We have done as much as we could realistically do to save as many jobs and stores as possible, and indeed we appreciate many landlords and local authorities have worked hand in hand with us as we tried to do this. However, there are still a number of stores which are currently paying zero rent and that are still unprofitable and unfortunately this is not sustainable. We are continuing to review the longer-term portfolio and would expect the number of retained stores to reduce in the next 12 months. On a scale out of 5, with 1 being very bad and 5 being very good, House of Fraser is a 1, albeit we are trying very hard to turn the business around this will not be quick and it will not be easy. Even though we do believe there could be a bright future for House of Fraser, and indeed have publicised our Frasers vision which we are very excited about, if we had the gift of hindsight we might have made a different decision in August 2018. In conclusion, unscrupulous and/or incompetent management have in this case, and in others within the retail market been shown to be largely untouchable by authorities or stakeholders. | debsdowner | |
26/7/2019 17:26 | results out. just rns'd | henrylightningbolt | |
26/7/2019 17:25 | Sports Direct presentation video: | debsdowner | |
26/7/2019 17:20 | perky said: "Doing a moony through the boardroom window at analysts outside headquarters is beyond the pale and no one seen anything like it before" No one wants to see anything like it and particularly before lunch. | debsdowner | |
26/7/2019 17:18 | Remember it`s never to late to turn things around: unless of course, | clocktower | |
26/7/2019 17:11 | Now that's a thought! | debsdowner | |
26/7/2019 16:40 | lol clocktower | debsdowner | |
26/7/2019 16:37 | Have a good weekend debs and all. | clocktower | |
26/7/2019 16:32 | chinese what time do you close in China... | qantas | |
26/7/2019 16:31 | Shareholder seen shouting outside SPD what time is it have the shares been suspended I cannot sell! | debsdowner | |
26/7/2019 16:31 | Your baby doesn't love you any more Golden days before they end Whisper secrets to the wind Your baby won't be near you any more Tender nights before they fly Send falling stars that seem to cry Your baby doesn't want you any more, it's over | clocktower | |
26/7/2019 16:31 | 5 minutes to go. | chinese investor | |
26/7/2019 16:30 | debsdowner closed | qantas | |
26/7/2019 16:30 | Be interesting to see what happens in the auction!! | gbenson1 |
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