Sports Direct delays results as deal backfires


FILE PHOTO: Mike Ashley, founder and majority shareholder of sportswear retailer Sports Direct, leads journalists on a factory tour after the company's AGM, at the company's headquarters in Shirebrook, Britain, Sept 7, 2016.

LONDON: 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.

Shares in the company, controlled by Newcastle United soccer club owner Mike Ashley, dropped as much as 7% in early trading yesterday.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Ringgit retreats vs US$ ahead of personal consumption expenditure reading
Oil prices rise as US official eases market concerns over economic headwinds
Inflation in Japan's capital slows more than expected, slides below BOJ goal
FBM KLCI opens lower as investors book profits
Trading ideas: Al-'Aqar REIT, Pantech, AirAsia X, Inta Bina, Khee San, Infoline, Heineken, Agricore
Capital A to dispose of 100% stake in AirAsia Aviation Group, AirAsia for RM6.8bil
Meta projects higher spending, weaker revenue
Property market recovery on the horizon
Buyout proposal for Anglo American could reshape copper market
A test bed for airline subscription model

Others Also Read