Sports Direct
This coverage focuses on Sports Direct’s activities and position within the UK retail market, detailing store developments, acquisitions, financial results, leadership changes, and strategic initiatives. Reporting examines how the company shapes its sportswear and leisure offering, adapts to market trends, and competes in a dynamic retail environment — providing retail managers and executives with insights into its operations and growth strategies.
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Dec- 2018 -13 DecemberDepartment Stores
Mike Ashley asks Debenhams to ‘reconsider’ £40m offer in ‘frustrated’ email
Mike Ashley has asked Debenhams to “reconsider” his £40m investment offer which he described as “a very public statement of support at a critical time for Debenhams’ business” in an email in which he described himself as “frustrated”. In the letter Ashley expresses his frustration that Sports Direct’s “assistance” has…
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13 DecemberHigh Street
HoF acquisition dents Sports Direct profits
Sports Direct has reported a 27% fall in profits for the half-year period ending 28 October as it counts the cost of its acquisition of embattled department store chain House of Fraser. During the period, the company that also owns USC, Flannels, and Evans Cycles reported underlying profit before tax…
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4 DecemberDepartment Stores
‘Tax the internet for the good of the high street’, Mike Ashley tells MPs
Sports Direct owner Mike Ashley has said online businesses should be taxed 20% in as soon as six months to save the majority of high street retailers and avoid closures. Ashley appeared in front of MPs at the House of Commons yesterday (3 December) after demanding to meet them in…
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Nov- 2018 -29 NovemberShopping Centres
Whittaker-led consortium abandons £2.8bn Intu offer
John Whittaker’s consortium has decided to scrap its bid to acquire Intu Properties following three extensions blaming the “uncertainty around current macroeconomic conditions” and the “potential near-term volatility across markets”. On 4 October 2018 a consortium comprising the Peel Group, the Olayan Group and Brookfield Property Group announced they were…
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26 NovemberShopping Centres
Mike Ashley vows to pull 17 stores from Intu Properties
Sports Direct owner Mike Ashley has vowed to close all his stores located in Intu shopping centres following a rent row over four House of Fraser stores. The move will see Ashley shut 17 stores — a mix of Sports Direct, House of Fraser, Flannels, USC and Evans Cycles…
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19 NovemberHigh Street
Evans Cycles to close stores despite ‘almost all profitable’
Evans Cycles is set for store closures despite a recent administrators proposals document by accountancy firm PricewaterhouseCoopers (PwC) claiming “almost all the stores were profitable”. In the document, PwC found that the company’s financial woes mainly stemmed from being “burdened” by costs at its head office. Last month it was…
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13 NovemberDepartment Stores
House of Fraser could see ‘significant’ number of further store closures
House of Fraser is set for a “significant” number of further store closures after landlords reportedly refused to agree to owner Mike Ashley’s new leasing terms. According to the Sunday Times, the Sports Direct boss met with agents at retail estate agency CBRE last week to discuss the stores to…
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Oct- 2018 -30 OctoberClothing & Shoes
Sports Direct to rescue Evans Cycles with half of its stores to shutter
Sports Direct is to rescue Evans Cycles after it fell into administration on 7 September, with owner Mike Ashley saying the retailer will have to shutter half of its stores to save the business. The closures would result in hundreds of job losses with Evans Cycles, which has been running…
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22 OctoberDepartment Stores
Debenhams ‘could close a third of its stores’
It is rumoured Debenhams could be closing up to a third of its stores following a series of profit warnings and poor trading results. The embattled department store has 166 outlets across the UK and is reportedly looking to save £100m. The Sunday Telegraph reported that the chain would save…
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22 OctoberDepartment Stores
House of Fraser’s Manchester Kendal store to close
House of Fraser has confirmed the closure of its flagship Kendals department store in Manchester, after rescue talks with landlords broke down. The store located in Deansgate is expected to close in early 2019, with around 160 staff expected to lose their jobs. A spokesman for House of Fraser said:…
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