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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Aug- 2018 -9 AugustDepartment Stores
House of Fraser fate could be decided today
A decision could be made on the future of House of Fraser today as its creditors assess takeover bids made by Sports Direct’s Mike Ashley, retail tycoon Philip Day, and retail turnaround fund Alteri Investors. According to Sky News, PwC spent Wednesday (8 August) afternoon negotiating on the 169-year-old’s department…
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8 AugustHigh Street
‘Misleading’ Sports Direct ad reprimanded by ASA
The Advertising Standards Authority (ASA) has banned a Sports Direct ad for “misleading” customers about the original price of a product, and warned the firm to make its delivery charges to online customers clearer. The sportswear retailer’s website was found to be promoting a pair of Karrimor walking boots for…
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1 AugustDepartment Stores
C.banner pulls out of House of Fraser rescue
C.banner has pulled out its House of Fraser rescue deal worth £150m due to a dive in its share price. The Hamley’s owner said the deal had been “rendered impracticable and inadvisable” following the fall. House of Fraser is now urgently seeking a £50m investment in order to avoid collapse.…
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Jul- 2018 -19 JulyHigh Street
Debenhams woes hit Sports Direct profits
Sports Direct has seen a 73% drop in pre-tax profit despite an increase in revenue thanks to its investment in struggling department chain Debenhams. In its preliminary results for the period ending 29 April, Sports Direct said pre-tax profits were £77.5m, down 72.5% from £281.6m the previous year. It said…
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11 JulyComment
Has Sports Direct entrepreneur Mike Ashley made a naming faux pas?
The founder of Sports Direct, Mike Ashley, is the latest business owner to attract unwanted attention from US retail giant, TK Maxx, over the choice of a new brand name. Should he have seen it coming? The dispute centres on the use of the name, Brand Max, as the brand…
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May- 2018 -29 MayHigh Street
WH Smith bottom of the pile in Which? survey
WH Smith has been named the UK’s worst-rated retailer by consumers with a 58% consumer satisfaction rate in a new survey of 10,356 people. The survey by consumer group Which? saw responses from customers who found the store “very expensive” and said that it needs “updating”. WH Smith customer responses…
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17 MayDepartment Stores
House of Fraser landlord anger nullified by stock exchange rules
House of Fraser’s relations with a range of stakeholders worsened today after several landlords expressed anger at proposed rent reductions as part of an ongoing CVA plan. Landlords are said to be peeved by the request for rent reduction after fresh investment by Hamley’s owner C.banner. Several landlords told media…
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8 MayDepartment Stores
Sports Direct launches legal action against House of Fraser over CVA disclosures
Mike Ashley, owner of Sports Direct, filed a petition against House of Fraser on Friday (5 May) following the department store’s decision to close some of its outlets. Sports Direct holds an 11.1% stake in House of Fraser and Ashley claimed the company was “frozen out” and “repeatedly denied information…
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3 MayGovernment
Mike Ashley complains against chairman of 2016 select committee
Mike Ashley has filed a complaint against the former MP who led the parliamentary inquiry into the working conditions at his Shirebrook warehouse. The billionaire owner of Sports Direct has filed a complaint to the Parliamentary Commissioner for Standards about the conduct of the former MP for Hartlepool, Ian Wright,…
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1 MayHigh Street
Sports Direct pips JD Sports, acquires 20% stake in Finish Line
Sports Direct has acquired almost 8 million shares in US sports retailer Finish Line – the company set to be bought by its rival JD Sports. In a ‘Strategic US Investments’ update the company owned by billionaire Mike Ashley revealed it currently holds 7,957,800 shares in Finish Line, representing 19.3%…
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