The Week United Kingdom (Digital)

The Week United Kingdom (Digital)

1 Issue, V. 1236

Companies in the news ...and how they were assessed

Sports Direct: giant mugs? Being a shareholder in Sports Direct is not for the faint of heart, said Ben Martin in The Times. On Monday, shares in Mike Ashley’s retail group fell 10% when it announced it was postponing the release of full-year figures due to auditing delays and “increased regulatory scrutiny” of its auditor, Grant Thornton – and might now miss key revenue targets. Ominously, Sports Direct cited problems integrating House of Fraser (acquired in 2018) and “uncertainty” over “future trading performance” as reasons for the delay, said Nils Pratley in The Guardian. It also cautioned that “a number of key areas” could “materially affect” previous market guidance. In other words, this sounds very “like a profits warning, with only the severity to be determined”. With the share price falling,…
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The Week United Kingdom (Digital) - 1 Issue, V. 1236

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