SPD.L - Sports Direct International plc
| Previous Close | 231.60 |
| Open | 230.00 |
| Bid | 227.80 x 0 |
| Ask | 228.40 x 0 |
| Day's Range | 226.80 - 236.60 |
| 52 Week Range | 220.20 - 427.80 |
| Volume | 167,445 |
| Avg. Volume | 428,724 |
| Market Cap | 1.196B |
| Beta (3Y Monthly) | 0.61 |
| PE Ratio (TTM) | 27.83 |
| EPS (TTM) | N/A |
| Earnings Date | N/A |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | 2010-05-12 |
| 1y Target Est | N/A |
- Reuters•2 days ago
PRESS DIGEST- British Business - July 16
- Reuters•3 days ago
Sports Direct delays results as House of Fraser deal backfires
British retailer Sports Direct has delayed publishing its annual results, warning problems integrating its purchase of House of Fraser stores and increased scrutiny of its accounts could affect the financial guidance it gave in December. While it did not give an update on its core sporting goods stores on Monday, it referred to complexities in integrating the House of Fraser (HoF) chain it bought last year and "uncertainty as to the future trading performance of this business". "HoF is clearly a disaster area, so this is a serious situation," independent retail analyst Nick Bubb said.
- Financial Times•3 days ago
Sports Direct jangles City nerves after auditors’ queries delay annual results
Sports Direct was forced to delay the publication of full-year results after auditors refused to sign off on the retailer’s latest accounts, dealing a blow to Mike Ashley’s assault on the UK high street. The decision to delay the release of its earnings for the year to April sent Sports Direct’s shares down as much as 16 per cent, creating a new twist in the often volatile relationship between the sportswear tycoon and the City of London.
- Reuters•3 days ago
UPDATE 1-Sports Direct delays results, guidance could be affected
Sports Direct has delayed the publication of its preliminary results due to problems integrating House of Fraser and increased scrutiny of its accounts which could affect its guidance. Sports Direct's Mike Ashley, who owns 61 percent of the group's equity, bought department store House of Fraser out of administration in August 2018. Sports Direct said it had also been affected by the fact Britain's accounting watchdog was reviewing the auditing of Sports Direct results.
- Financial Times•3 days ago
Auditors/Sports Direct: no shoo in
Mike Ashley invests in home comforts rather than defensives. Imagine him on a Sofa.com couch, in a Sports Direct tracksuit and trainers, playing a Football Manager computer game in a lounge furnished by House of Fraser. Unfortunately for the UK billionaire, auditor Grant Thornton has blasted cold air into the fug.
- Reuters•3 days ago
PRESS DIGEST- British Business - July 15
- Bloomberg•last month
Arcadia Rescue Deepens U.K. Landlords’ Retail Crisis
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Faced with the choice of accepting rent cuts or hunting for new retailers to fill hundreds of stores, U.K. mall owners are swallowing their medicine.Some of Britain’s biggest commercial landlords including Hammerson Plc and British Land Co., voted in favor of a rescue plan for billionaire Philip Green’s Arcadia Group that meant having to accept dozens of store closures and rent cuts of at least 25% at almost 200 sites.But their approval for the so-called Company Voluntary Arrangement was grudging and highlights how much pressure they are under from the pain inflicted on retailers by consumers choosing to shop online rather than in department stores.Land Securities Group Plc, Standard Life Aberdeen Plc and the Crown Estate had intended to vote against Arcadia’s proposals and switched at the 11th hour, according to people familiar with their plans who asked not to be named discussing information that isn’t public. One landlord, Intu Properties Plc, voted against, calling the deal unfair to tenants that pay full rent.“It really is like being stuck between a rock and a hard place,” said Daniel Swimer, property litigation partner at law firm Joelson. “Landlords could have rent reductions forced upon them or, if the CVA doesn’t get passed, they’re left with a large retailer failing in the current retail climate.”Deal ApprovedThe fact the deal was approved is likely to put further pressure on mall rents and values, and raises the possibility that commercial property owners could be tipped into a crisis similar to that faced by the retailers who make up some of their biggest tenants.The cost of insuring Land Securities’ debt against default saw the biggest daily rise since December on the day after the Arcadia vote, according to ICE Data Services. Moody’s Investors Service warned of possible damage to the creditworthiness of retail property owners that already face “weak operating performance, with declining footfall and retail sales, and downward pressure on rents.”The landlords came under pressure from Arcadia to back the deal or put about 18,000 jobs at risk if the company was forced into administration, people with knowledge of the negotiations said. Several were told they would be shirking their social responsibilities and be blamed for job losses, an accusation they resented, some of the people said, asking not to be identified as the talks were private.Arcadia representatives declined to comment.Ultimately the decision to back the CVA came down to the best commercial interests of the landlords, given that they could be left with empty sites if Arcadia fell into administration, two of the people said.Spokesmen for Land Securities, the Crown Estate and Standard Life Aberdeen confirmed they had backed the plans but declined to comment on the detail of the negotiations. Representatives of Hammerson and British Land declined to comment.Smaller CutsWhile many companies have preceded Arcadia’s CVA, few have been so large and many secured less generous rent cuts. The risk is that following Arcadia, other retailers now demand the same, even those that have previously undertaken rent cuts.“There’s nothing to stop companies coming back for a second bite,” Andrew Hughes, head of European general retail at UBS said at a media briefing last month.Intu has previously highlighted the likely impact of Arcadia’s CVA, saying last month that store closures are worse than expected and it sees net rents falling 4% to 6% this year. The company, which owns eight of the top 20 malls in the U.K., is under pressure itself to sell assets to cut debt and CVAs are hampering those efforts.Falling ValueIntu said in February that a further 10% fall in the value of its properties would cost 1 million pounds in extra expenditures in order to avoid a breach of loan covenants. U.K. Retail property values fell 10.25 percent in the year through May, according to data compiled by broker CBRE Group Inc.Some landlords are pushing back on department store chain Debenhams’ outlet closures which won creditor approval in May. Sports Direct International Plc has grouped together with landlords to challenge the CVA and property investor M&G Investments has launched another challenge, a spokeswoman for the asset manager confirmed.But it will be hard for landlords to stop the trend. Consumers’ shift to online shopping shows little signs of abating and insolvencies have jumped by more than a fifth since 2016, with more than 1,200 retailers collapsing last year.“What is 100% certain is that retailers can’t carry on paying the rents they have historically,” said Richard Hyman, an independent retail consultant. “There’s less money in the pot to fund it and the pain has to be shared by the landlord as well as by the retailer.”\--With assistance from Antonio Vanuzzo.To contact the reporters on this story: Katie Linsell in London at klinsell@bloomberg.net;Jack Sidders in London at jsidders@bloomberg.netTo contact the editors responsible for this story: Vivianne Rodrigues at vrodrigues3@bloomberg.net, Chris Vellacott, Shelley RobinsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Reuters•last month
PRESS DIGEST- British Business - June 6
- Reuters•2 months ago
Bin Zayed Group says terms for Newcastle deal sent to Premier League - reports
British media reports have said this week that Sheikh Khaled is in talks with Newcastle owner Mike Ashley over a 350 million pounds deal for the club, which finished 13th in the league this season. Doubts had emerged about whether the Bin Zayed Group, of which Sheikh Khaled is chairman, would complete the deal, but it has responded to clarify plans relating to the proposed takeover.
Reuters•2 months agoSports Direct confirms 120 million stg headquarters sale and leaseback
Sports Direct, the sportswear retailer owned by British billionaire Mike Ashley, has sold the freehold to its Shirebrook logistics centre to Malaysia's Employees Provident Fund for just over 120 million pounds ($152 million) in cash. Sports Direct, which will take a 15-year lease on the property, said the proceeds would be used for group operations and to boost its working capital. Malaysia's Employees Provident Fund said in a separate statement it was attracted to the assured income stream the acquisition would generate, and as such the deal would complement its British property portfolio.
- Reuters•2 months ago
UPDATE 1-Sports Direct confirms 120 mln stg HQ sale and leaseback
Sports Direct, the sportswear retailer owned by British billionaire Mike Ashley, has sold the freehold to its Shirebrook logistics centre to Malaysia's Employees Provident Fund for just over 120 million pounds ($152 million) in cash. Sports Direct, which will take a 15-year lease on the property, said the proceeds would be used for group operations and to boost its working capital. Malaysia's Employees Provident Fund said in a separate statement it was attracted to the assured income stream the acquisition would generate, and as such the deal would complement its British property portfolio.
- Reuters•2 months ago
Mike Ashley to sell Newcastle to Arab billionaire for $445 million - The Sun
The contracts between Ashley and Sheikh Khaled have been signed and submitted to the Premier League, according to the report. Ashley, who bought a controlling stake in the Premier League club in 2007, has in the past tried to sell the club. Ashley, who owns British sportswear retailer Sports Direct International Plc said last October that he had not received any acceptable offers for Newcastle, a year after he officially put the club up for sale, but told Sky News in December that talks on a deal had made promising progress.
Reuters•2 months agoSports Direct dissolves stake in MySale Group
(Reuters) - Mike Ashley's Sports Direct International Plc dissolved its stake in online retailer MySale Group Plc, a filing showed on Monday. Sports Direct has been trying to ramp up its operations as ...
- Simply Wall St.•2 months ago
Why Sports Direct International plc’s (LON:SPD) Return On Capital Employed Looks Uninspiring
Today we are going to look at Sports Direct International plc (LON:SPD) to see whether it might be an attractive...
- Reuters•3 months ago
PRESS DIGEST- British Business - April 11
The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times Rolls-Royce has agreed with the European ...
- Reuters•3 months ago
Ashley's Sports Direct drops plan to buy Debenhams
(Reuters) - Billionaire Mike Ashley's Sports Direct said it did not intend to make an offer to buy Debenhams after lenders took control of the ailing retailer on Tuesday. Sports Direct had until April ...
Reuters•3 months agoLenders seize UK retailer Debenhams, wiping out Ashley
Debenhams' lenders took control of the ailing British retailer on Tuesday in a process designed to keep its shops open at the expense of shareholders, including an irate Mike Ashley, who were wiped out. Once the country's biggest department store chain, Debenhams had been hit by a sharp slowdown in sales, high rents and ballooning debt, plus an acrimonious power struggle with billionaire Ashley's Sports Direct. Administrators were appointed on Tuesday after Ashley's last-ditch bid to rescue the company failed.
