Sports Direct Share Discussion Threads

[nortic 007] 12/12/2016 16:16

What a disappointing day after such a good start. Must say nothing surprises me any more.

[nortic 007] 12/12/2016 14:22

Sounds like my type of holiday... enjoy.

[au24] 12/12/2016 12:19

Thanks norticNice holiday boost with seeing share price up. Dry here at the moment. Lovely walk in Gt Langdale valley first thing this Am after a great fry up breakfast.

[nortic 007] 11/12/2016 21:04

Hi useless , its about the only thing I've got right recently . Have a good week.

[useless23] 11/12/2016 18:34

I remember Sky and Itv being recommended

[nortic 007] 11/12/2016 16:08

Have a nice break. Remember buy all your Christmas presents from SPD.We need all the help we can get :)

[nortic 007] 11/12/2016 15:36

Hi au24 , unfortunately as far as the journalist go that's the way it's going to be for a long time to come. The whole jet thing is yet another let down from MA . My only reservations about MA is he's forgetting about his shareholders. We all know he's very rebellious but that affects us all. By the way do you remember asking me for some stock picks some weeks back? I'm mentioned SKY and ITV. I wish I practiced what I preached :(

[au24] 11/12/2016 13:18

These journalists are good at selectively giving partial facts and leaving out others which then distorts the complete factual picture. Im on the move today heading for a hotel in the Lakes.

[au24] 11/12/2016 11:54

M on Sunday Not such a nice piece on spd,quite anti infact.

[useless23] 09/12/2016 14:58

Oh... And Mike Ashley managed to persuade former real Madrid manager and champions league winner to manage a relegated club.

[useless23] 09/12/2016 12:42

If I was Mike Ashley, I would carry on buying property with the profit and then start paying a dividend to get all and sundry invested in the stock, which will get the share price back up to its highs THEN sell.

[terminated] 09/12/2016 11:42

Ashley wouldn't sell spd at a discount when he knows he can get this back up to £7-9 in a few years time. He doesn't need the money and no way would he write off 500m for the sake of some patience, besides this is his baby, long term he will want sole custody.

[warranty] 09/12/2016 11:36

Well I don't think MA would consider selling to anyone else at this price when he could take it back private and take it out of the public eye. He surely must have considered all options though.

[nortic 007] 09/12/2016 11:08

There's always a price :)

[mertles] 09/12/2016 10:32

I know Mike Ashley keeps saying he has no plans to take SPD private...but am now starting to wonder if he's happy to sell his whole shareholding and the company along with it. Could see a Private Equity company offering an acceptable price to MA with the potential to make themselves a fair return by flicking it on a few years later. Or would MA never sell the rest of his baby?

[nortic 007] 09/12/2016 08:44

No worries

[au24] 09/12/2016 08:41

Thanks Nortic,ticked it up.

[discodave4] 08/12/2016 20:04

thevaluehunterPerhaps I have missed something here, been focussing on their underlying business (which is not good at the moment) rather than assets/EV.Can you enlighten me, I make their net tangible asset value about 378 (this is on 593m shares so is possibly 5% light).DD

[nortic 007] 08/12/2016 19:44

I think it's a honest appraisal from start to finish?

[nortic 007] 08/12/2016 19:16

In a pantomime attempt to save the soul of Sports Direct, its founder has adopted the role of a penitent Ebenezer Scrooge. As profits fall Mike Ashley, the company's founder and largest shareholder, said his primary concern on Thursday was the impact of a difficult year on his employees. The share price fell 6 per cent but growing sales and an attractive valuation belie the company's tarnished reputation.The spectre of Jacob Marley has not been banished entirely. On the same day as Sports Direct announced a special share scheme for workers it confirmed the delivery of a private jet costing roughly the same amount. Never mind. Exposés of bad working conditions and questionable corporate governance excite journalists and MPs. Punters care more about cut-price clobber: sales at the UK sports retail division, which accounts for 69 per cent of revenues, rose 7 per cent year-on-year in the six months until October 23. A one-quarter drop in pre-tax profits looks bad, but a fair chunk of this was accounted for by a £18.5m foreign exchange loss.The mistimed sterling-dollar hedges compounded a 4.5 percentage point drop in gross margins. They will not recover quickly, given the upward pressure on wages, the weakness of the pound (its goods are mostly imported) and Mr Ashley's promise to be kinder in future to his Bob Cratchits.If working conditions are improving, the same cannot be said about governance. Sports Direct has not had a permanent finance director since 2013. The appointment of a new non-executive director is underwhelming. Its penchant for related-party transactions - the latest an agreement with a company at which Mr Ashley's daughter is a director - continues unchecked.None of this is great. But it is baked into a share price that has halved this year and values the company at a measly nine times the five-year average of its earnings per share. Indeed, even if earnings were to halve, the company would still trade at a substantial discount to its peer group. Mr Ashley is unlikely ever to embody the spirit of Christmas. But he still knows how to flog trainers.Email the Lex team at [e-mail]

[nortic 007] 08/12/2016 19:12

I'll have a go.

[terminated] 08/12/2016 19:10

Cant you copy and paste some of the key points?

[nortic 007] 08/12/2016 18:59

Yes I am. Sorry I can't get it across to you.

[au24] 08/12/2016 18:55

Nortic
Getting this up from your link

You must be a Premium Subscriber to continue to read:
Sports Direct: bah humbug

[nortic 007] 08/12/2016 18:41

Cancelling that share buy back does give him a lot more freedom but in today's statement I'm sure it reiterated that he wouldn't be taking the company private. So on that basis he can only come back in 6 months time.