Sports Direct Share Discussion Threads

[sentimentrules] 30/7/2019 08:35

Obviously with a volatile motion. Like this morning. Hits a monthly pivot and sell off. Ain't gonna be a vertical strike lol

[sentimentrules] 30/7/2019 08:31

You will have to read back a bit. Just before the Friday drama I suggested this stock would be the buy of the year that's left . (Long way off that yet) The drama only reaffirms it given SPD history post bad AGM days and all sorts. One of those few shares where the ownership of stock interest is so high on a ftse board, this will not be allowed to capitulate into Xmas So the question was simply, 300p+ a fair target? By even September? If it does that, 400p by December I think, Imo. What you think? I understand the sector and all that . Just a pure company /management interests play for a few months

[only who?] 30/7/2019 08:22

I'd comment if I knew what you were talking about,SentimentRules?

[robot ic1] 30/7/2019 08:21

Qantas , good morning to you , SPD In and out in a couple of days and a fair old profit ,well done me . They can knock it all they like if it gives returns like I have received in 2 days . black gold hammering up .

[sentimentrules] 30/7/2019 08:04

I was too conservative around tbe 214 Mark earlier. So il just have to leave it at 245. My target here is to get through 300p pre December . And lock it down hoping for an extra run to December 1st That seem reasonable? Or are others looking at it totally differently?

[tomboyb] 30/7/2019 07:57

Buyback in progress -

[sentimentrules] 30/7/2019 07:48

Quantas great pre market call. Whatever the day brings, excellent regardless.

[useless23] 30/7/2019 07:39

And where will they get the stock from to short?

[sentimentrules] 30/7/2019 07:33

Very bullish open despite gap given yesterdays drama. If it drops a bit il put last 20% as order at yesterday's close

[knigel] 30/7/2019 07:31

The biggest shock is that the company do not know which part of the company this relates to! Isn't there a VAT number on the notice (eg. HoF might still have a different VAT number)

[only who?] 30/7/2019 07:31

Qantas still spot on with forecasts.

[clocktower] 30/7/2019 07:09

Whatever money is used to buy back shares at these levels, I expect will more than be matched by the bigger short positions coming in to play. Easy money for the big hitters imo.

[konradpuss] 30/7/2019 06:54

Grant Thornton to resign as auditors according to the F.T. Maybe he could get some local firm near the H.Q. to do the accounts as the big boys probably don't want the business.

[useless23] 30/7/2019 06:08

The smart money may be speculating that SPD will be taken private and anyone holding at these levels may get a healthy premium on their return

[undervaluedassets] 30/7/2019 04:54

The problem I am having is that it seems that no one will touch him now. He is toxic everywhere. His right hand woman Karen Byers has reisgned the FD has resigned The suppliers of premium product won't supply to him The big auditors won't touch his books His current auditors look to be on the brink of abandoning him. Those closest to him clearly feel he has lost the plot.

[sentimentrules] 29/7/2019 22:48

"We’ll tackle it, we’ll handle it, it’ll go away.”))))" Haha lol. Hopefully for a few months anyway. Can get a bill for ten billion after that as far as most of us probably care

[fenners66] 29/7/2019 22:44

One thing for certain , even if GT change their mind the lack of competition is going to mean a whole lot more expensive next time around - no partner worth his mindbogglingly too high salary is going to miss this opportunity...

[sentimentrules] 29/7/2019 21:49

I've no idea. I'm out by December so not looking ahead much on auditors. All the same anyway re rubbish. As fraudulent accounts across the 350 over the years suggest. Or ridiculous variances from the last audit etc. .its just something in name only. Offers nothing to protect investors on the whole.

[pj0077] 29/7/2019 21:35

Which auditor, though?From Friday's results: "The SD Group has grown exponentially in size, geography, and complexity over recent years and we do not believe a firm outside of the Big 4 will potentially be able to cope with such an audit in the future. However, we currently have Grant Thornton who have vast experience of the Sports Direct Group and our intention is to ask our shareholders to approve their reappointment for a further year at the AGM.Our early discussions with the big 4 have thrown up some barriers"

[sentimentrules] 29/7/2019 21:16

I think getting an auditor is easy enough. Tesco managed it etc.

[pj0077] 29/7/2019 21:08

From the FT this evening, 9:30 pmGrant Thornton has told regulators it intends to quit as Sports Direct's auditor following concerns over the disclosure of a €674m tax bill, in a move that would pile more scrutiny on to the corporate governance of Mike Ashley's business.The firm, which has audited Sports Direct since it floated on the London Stock Exchange in 2007, is set to resign after the troubled retailer's annual general meeting in September.Grant Thornton made the decision to walk away from the company - one of its largest listed audit clients - after it was informed by Sports Direct of the significant tax liability just hours before it was due to sign off on its annual accounts, according to two people with knowledge of the matter.The Financial Reporting Council, the audit watchdog, has been informed of its plans, the people said.The resignation could leave one of the UK's most high-profile listed companies struggling to appoint an auditor after it admitted in its annual results last week that it had not persuaded rival accounting firms to tender for its audit contract.The retailer's shares dropped sharply on Monday after the tax disclosure debacle late last week, alongside concerns about trading in its core business. The company was forced to delay the publication of its earnings by 10 hours and eventually revealed that the reason for the delay was a €674m Belgian tax demand that came at "the eleventh hour".Incoming finance director Chris Wootton said the company considered the tax demand "without merit", adding: "We'll tackle it, we'll handle it, it'll go away."Outgoing finance director Jon Kempster announced he was quitting on Friday evening when Sports Direct finally announced its results. His departure follows several others in recent weeks, including head of retail Karen Byers and company secretary Cameron Olsen.Grant Thornton is under scrutiny from the audit regulator for its work for Sports Direct. The FRC is investigating why Grant Thornton did not disclose payments made by Sports Direct to a company run by Mr Ashley's brother as a related party transaction in the accounts. The FRC's audit quality review team is also looking into how Grant Thornton valued Sports Direct's holding in Debenhams prior to its near collapse in June.Sports Direct said in its results that it had held "early discussions" with the Big Four accounting firms over a possible tender process to replace Grant Thornton. It revealed that KPMG, Deloitte and EY had told it they were conflicted from auditing the business, and PwC had a "reluctance to engage based on our ownership structure".BDO, a mid-tier accountant, ruled itself out of a proposed tender process last year, citing reputational risk. Mazars, another challenger firm, approached Sports Direct about becoming its next auditor but with a number of conditions around governance.Asked about the auditors at its results presentation, Mr Wootton said Sports Direct had a "rolling letter of engagement" with Grant Thornton, but that "you would have to ask them" if the firm would continue to audit the group.Under UK rules, if a company cannot appoint an auditor, the Department for Business has the power to make an appointment. The lack of an auditor would be another significant problem for Mr Ashley and his tight-knit team of top executives. Sports Direct has lost £150m due to Debenhams going into administration, while House of Fraser lost £54m in its first full year of Sports Direct ownership. In its core sportswear business, refurbished stores have not attracted the level of support from third-party brands that it hoped for.Sports Direct, Grant Thornton and the FRC declined to comment.

[sentimentrules] 29/7/2019 20:53

Still a bit of a dog. But medium term.. beautiful Just imo 245p zone has some serious buyers. Today's volume a take up and all the news and price zone etc tying in, they supported that 245. But be nice to see 229 taken out this week to confirm the volume is that,