Sports Direct Share Discussion Threads

[cautious7] 28/7/2019 09:01

Hi

Ask yourself this!

1: why were the results delayed by 2 weeks?

2: Did the Belguim government really only tell them Friday about the bombshell
600+ million pound tax bill??

3: HoF, how much will be lost through this purchase and for how long?

4: How many years will it take to repay this tax bill, 3/4/5?

5: High street shops/stores going under, how will SD manage?

6: Confidene in the city was alreay low imo re this group, what will
happen now?

7: If you don't get answers to numbers 1, 2 and 3 by tonight, can you trust
your leader/s?

8: Finally, are there ANY MORE BOMBSHELLS in the pipeline???????????????????

DYOR

Regards

C7

[tim 3] 27/7/2019 23:38

He had a formula that worked to an extent with sports direct stores although personally I hate them the majority of stuff they sell is cheap and nasty and the stores are a nightmare to shop in but there is a market for it sadly.He has some of the worst employee policies out there with massive amounts of staff on zero hour contracts.Stores like Decathlon which have similar pricing but far better quality products are a much better option and treat their staff with much more respect.Few will have sympathy and I certainly don't for his current situation.

[discodave4] 27/7/2019 23:30

You don't remember do you!Think back a couple of years, you always referred to me as "mong", you and your pals Nortic 007, Terminated (knows it all) and Unavailable (is no more!) constantly attacked my postings just because I had a different view about SPD.So I'm glad you are losing money, glad too that Terminated lost a packet at DEB, is losing loads at MTC (I'm shorting) and here (I shorted), Nortic is losing a load at CNA (I shorted) as well, and it's all because none of you have the ability to ever consider that you may be wrong, or to listen to an opposing view, no it's much easier to join in and attack that person isn't it!.So long loser/s.

[knigel] 27/7/2019 23:02

Is Odey shorting this? I can't really believe MA will be lending his shares this time... (Re Debenhams)

[eggy6198] 27/7/2019 22:39

Sell as soon as you can likely 8.05

[useless23] 27/7/2019 22:15

I'm still long at 236p and have an order at 94p. I may lower the order to 59p before Monday morning though. I took a gamble and it hasn't paid off. That's life.

[ignoble] 27/7/2019 21:35

Funny how borrowings are Investment Capital when things are going well
When things become iffy, they are now called Debt.

Never quite understood "Goodwill" on a Balance Sheet either.

[ltcm1] 27/7/2019 21:17

Far from MA taking SPD private, I think the opposite could happen.

It would not surprise me if Ashley is potless and I can't see too many lining up to lend him money right now.

If he really has this tax bill, it could be game over for him and he may have to sell his SPD stake right down and relinquish control of the business.

[ignoble] 27/7/2019 20:21

Read The Life is Hard thingy...

Every ruddy excuse under the sun but miss the bleedin' obvious.
They do not put stuff in the stores that we want to buy.

JD Sports doing well, Zara plus others that sell product people like and will purchase.


I know it is not that simple but Retail has every ruddy excuse except the obvious... You are not stocking anything that people want to buy

[debsdowner] 27/7/2019 20:19

The delay in results should have been a massive warning to holders to exit while they could the Observer is predicting a large fall on Monday.

[the stinger] 27/7/2019 20:04

No dividend, 4 / 5 / 6 yrs of nil profit to pay that tax bill, HOF finished and huge losses there still to come out... net debt at GBP378.5m!!!!,,,,and finally the uncertainty of SD stores themselves along with the high street in terminal mode.... I’m out of this Monday and may buy back at 5p!!. Don’t kid yourselves SPD is in the knackers yard....

[debsdowner] 27/7/2019 20:03

The Observer:

"Life is hard for retailers< But Sports Direct is in a crisis of Ashley's own making"

[debsdowner] 27/7/2019 19:55

SMC,

Not sure what the point is you are making in your post and in particular " It was during the tour that Mr Turner said to me 'It was the Agencies we were after'… 'We had to get you in order to get to the agencies'."

If you could elaborate on your post and explain please?

[debsdowner] 27/7/2019 19:52

Typo56

There wont be a suspension imo.

As to Disco's comments "kiddy in a sweet shop" it about sums it up greed and ego got the better of him and took too much on and too mush to deal with.


I think the losses in HOF was predictable there had been numerous articles in the press about empty spaces in the stores and being filled up with Sports Direct stock which went against his previous comments about being the Harrods of the High Street. You cannot be a Harrods of the High Street and fill the store up with discounted tat its just not possible. it was also a pointless exercise and I would guess some of the HOF stores in cities had a Sports Direct store.


Some other posters have mentioned his stores are awful they are a maze to get around and I have to agree they "stack it high sell it cheap" the late Jack Cohen's policy at Tesco and that format is a bit dated these days.

[smcni1968] 27/7/2019 19:43

I have mentioned on numerous occasions the true reason behind the attack by the unions on Sports Direct and will mention here again for the record, and I will repeat this every year. On Tuesday 4 October 2016 Luke Primarolo, Regional Officer, Unite Union and Steve Turner Assistant General Secretary Unite Union were taken on a tour of the facilities at Sports Direct Head Office, Shirebrook. Time was spent in each of the retail units in Shirebrook, then the Main offices and the canteen, and finally the warehouse. Both Mr Primarolo and Mr Turner engaged in a long and interactive discussion with myself into how Sports Direct works, how Sports Direct is run by the people of Sports Direct but how difficult the focus on the business has been. It was during the tour that Mr Turner said to me 'It was the Agencies we were after'... 'We had to get you in order to get to the agencies'.

[debsdowner] 27/7/2019 19:41

Hi KNIGEL we meet again hope you are well. Re your post:-

KNIGEL
27 Jul '19 - 16:11 - 6435 of 6442
0 0 0
DebsDowner, literally no high street retailer is doing well at the moment.
TBH Brexit needs to be sorted one way or the other and business rates cut before we see any recovery.
Why SPD are buying back shares at all s/b an question to ask!!

………;

Some niche retailers like Jules doing OK but I think you mean the majority and the larger retailers therefore I am inclined to agree with your comments.

BREXIT does need to be sorted but even if it was world growth is slowing and retail getting ever kore competitive.

If Borris can "turbo charge the economy" things may not work out as bad as the doomsters are predicting.

I have to agree with you on the buy backs it is questionable why he is buying back but he has got good cashflow but Debenhams did as well which we both know and things can alter quickly in retail.

I can only think the buy backs give him more control as other posters mention and bear in mind if he was to seek to delist and there is a vote, then the shareholders who do not vote because they cannot be bothered their votes don't get counted which means he may not be short of gaining 75% to delist the company!

Readers need to consider this very carefully boards tend to take advantage of laziness of shareholders not voting it increases their percentage votes!

I have to admit at this stage however I would not like to call this a total perilous situation but a lot does depend of whether or not the company doesn't have to pay the Belgium tax bill. If they do end up having to pay the bill including penalties and interest it could indeed force the company over the cliff.

The share is definitely a sell at the moment and extremely risky with the uncertainty of HOF and the tax bill and the company has as much as said that in their statement yesterday.

Its getting to be a gamblers stock like Debenhams was although most predicted HOF was still in trouble no one could have predicted the huge tax bill that was a compete shocker if ever there was one.

[typo56] 27/7/2019 19:36

They'll obviously be some volatility on Monday but I can't see this is grounds for suspension (other than normal intraday 5 min suspensions on 10% static price threshold). I'd expect them to commence normal trading shortly after 08:06, following an extended opening auction.

[discodave4] 27/7/2019 19:35

Can slightly understand his logic, if you believe glory days will return for bricks and mortar then now would be the time to buy - but that's a massive gamble, but perhaps he thought it would be a win win. Why wasnt the true state of HoF flagged in August 2018 prior to buying?, appreciate it takes time to put it under the microscope but surely those stores not making a profit even with no lease payments would be easy enough to spot?. Or was MA like a kiddy in a sweet shop and just blindly buying everything and anything that was coming up for sale - greed, ego, who knows but MA won't suffer, unlike shareholders and employees.

[tim 3] 27/7/2019 19:20

Agree think MA lost the plot a bit recently been winding up Newcastle fans he may own the club for ever!

[ianood] 27/7/2019 18:55

Ignoble - agree, maybe he hadn't got anybody in the family to bug a couple of million at!
DicoDave - echo your sentiments.

[discodave4] 27/7/2019 18:28

The core business is sound, it's possible demise will be all down to MA's ego, nothing more. IMO he wants to outdo his ex pal Green, both will/have come unstuck. Harrods of the High St will never work, stick to stack em high sell them cheap - it's a proven model, but nope MA wants the High Street, all of it.Sorry for those holding.

[cautious7] 27/7/2019 18:20

Hopefully he has given another interview to the FT/etc and we will get more from the horses mouth.

Caution advised.

1: Why were the results delayed by 2 weeks??

2: Shares could easily be suspended before markets open Monday if volatility, massive volatity is expected and this will be to clarify the situation. However, imo spd has had more than enough time

3: As we all know, high street shops and stores are having a rought, v roguh time only the supermarkets are really keeping their head above water.

I am hoping to join in a bit later in the day after the crash, bounce, steady as she goes and another crash and this is why i expect a suspension of these shares as the big investors may demand that.

DYOR

Regards

C7 - For the last 20 years or so seen all shares not as an investment but 100% gamblimg like on the dogs

[discodave4] 27/7/2019 18:10

Hi Useless, didn't you post up you were long at 236?, then yesterday that you had put an order in at 94p, so I'm assuming you've closed your original 236 long?.Do you recall our previous conversations a couple of years ago!.

[ignoble] 27/7/2019 17:36

I really think MA could have used a PR Company to improve the SPD image and his own.
Nobody seems to have a good word to say about him
Not the best jobs in the world but he has provided employment for a lot of people who may otherwise have struggled.
Did he not give a lot of shares to employees a few years ago. Decent sums if I recall.

[sandeep67] 27/7/2019 17:11

Why dies Olympus sports come to mind here? Same problems of sticking own brand or cheap branded goods and it all ended in tears. This was without Brexit, online transition and dire high street.