Sports Direct Share Discussion Threads

[konradpuss] 15/7/2019 22:36

Just take a look at Assetco Plc if you want to see a Grant Thornton train crash.

Grant Thornton were put into 'special measures' last week.

It looks like another Arthur Andersen in the making.

I have done no d.d. about a short here although it could not happen to a 'nicer' largest shareholder.

[rescuer] 15/7/2019 22:13

Fenners - with you on this one - it's a short all day long.

[useless23] 15/7/2019 19:19

Remember Pat Val and Grant Thornton....

[fenners66] 15/7/2019 12:58

At the time of his screw up over Debs , I said on that board that there would have to be more losses to account for at SPD after the shares got written off. I suggested that SPD would then be a short.

I did not short (again) but of course now wish I had.

Seems to me that over the last couple of years I would have been better placed shorting stocks rather than looking for longs.....

[clocktower] 15/7/2019 12:57

Clearly he did not manage to get shot of that £600 million stock that came with HoF, as quickly as he would have liked, having I guess found lots of it was overvalued on the books, as much was I suppose just dead stock to fill the rails and shelves.

I also expect he wants to take a big hit this time around, so he can then show how he has turned the acquisitions into profitable enterprises.

Take away the company dealing in their own shares, over a fair period of time I guess this would already have slumped below £2.with so many shares being held in treasury.

Maybe he will buy those up and take it private at some point.

[terminated] 15/7/2019 12:19

He didn't close any HoF stores which was surprising. Did he manage to reduce the rents, nothing was said? Retailers like HoF only have a future if rents are reduced by at least half.He just doesn't strike me as a guy that likes loosing money and the bulk of his fortune is tide up in this company. It is also hard to believe JJB could announce big profit increases without SPD also benefiting from this market upturn. A year ago trading over £4, how much impact could HoF have and if it was trading badly why would he consider buying Debenhams if HoF was doing so badly?

[tony1974] 15/7/2019 12:19

Don't worry, he's taking plenty money out of NUFC to cover these losses.. :-)

[hotfinance14] 15/7/2019 12:14

He also has an investment in Goal Soccer and their shares have been suspended.

[topvest] 15/7/2019 12:14

Looks like the wheels are starting to fall off. The HoF acquisition was a very high risk move. They have simply taken on too much in too short a time. Adding GAME and the bid for Findel was crazy. If the core business deteriorates, Sports Direct could be in real trouble.

[debsdowner] 15/7/2019 12:06

itc

Good job he wasn't able to buy Debenhams !

[ltcm1] 15/7/2019 11:38

What on earth was he thinking of buying HoF???

The thing is in retailing that unless you have a lot of scrutiny and control your merch is going to disappear out the back door. It is sort of controllable in smaller stores but a department store is basically a thieves paradise. You can't just cut a bunch of staff and do it all on the cheap, there are vast amounts of stock to keep control of.

If Marks have trouble managing their clothing lines, you can imagine how hard running a department store must be if you are not an expert at it.

[debsdowner] 15/7/2019 10:14

Doesn't look good, debt high, and its possible losses now.

[hotfinance14] 15/7/2019 09:43

All of MA's investments in other retailers seem to have gone pair shaped.He has lost millions.

[buywell2] 15/7/2019 09:09

The problem is that many folks that have done well , again and again

Think they know better than anybody else ie they are bullet proof

With this company:

The departure of Karen Buyers seems to have caused a major loss of confidence in many investors, MA is reported to have said she was ''the real brains behind Sports Direct''.

Now she is not there , I wonder if the BOD can persuade MA likewise ?

P/E is still showing 50 , which could IMO get halved after 200p , 100p could chartwise happen



Recent forays into high st acquisitions in the face of increased on-line selling does not add up

dyor

[pugugly] 15/7/2019 07:55

Agreed profit warning in spades!!


Suspect the knives will be out for MA - Could he be going the same way as PG?

[bookbroker] 15/7/2019 07:42

Serious issue here with that announcement, not only has MA been wasting the company’s money pursuing consolidation of the high street, but he is also seen in a very sceptical light by the boys in dark glasses in the city. Mavericks/outliers, whatever you wish to call them, are interesting but unconventional, this company should have remained private due to the involvement of its major shareholder, big fall today and outside investors going to get torched!

[american idiot] 15/7/2019 07:30

Profit warning !



The firm also said “there are a number of key areas to conclude on which could materially affect the guidance given in Sports Direct’s announcement of 13 December 2018”.

Materially ! Ouch.

[discodave4] 14/7/2019 11:35

Buyback £9,433,276

[terminated] 03/7/2019 14:39

He borrows it lol. I don't think he is buying much as he has acquired quite a few companies in the last 6 months. Markets seem nervous as we run into results, only justified if HoF is performing worse than expected.

[tony1974] 03/7/2019 10:56

I wonder where SD (Ashley) is getting all this money from for the share buy back.. wonder how much has been 'spent' so far.

[rescuer] 28/6/2019 14:04

thank you Terminated -

[terminated] 28/6/2019 13:53

My understanding is that NFC was purchased directly by Mike Ashley using his own funds through a company set up MA called: St James Holdings Ltd.