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Funny yesterday my arse
Mr Market didn't know this and company claim they only found out yesterday. Lol
I can only agree with MA's comments about DEB and hope something comes out of the wash on this for shareholders. Having said that, exactly as commented on many times before, HOF has turned out to be a complete and utter basket case. The only to have made that work was to have bought DEB but MA lacked the bottle at the time to get on with it and just make a proper bid. If he had done, it would have been transformational to SPD.
Still, we are all geniuses with the benefit of hindsight.
just re-read. This is massive a fine. And they don't deny the charges. Wow 200% fine!!!
Read last pargraph
Nice find. At the end as always of an RNS. The TAX demand while not rebuffed is going to hit the SP hard. Missed that part as I thought I scrolled all the way.
NOT GOOD!!!!!!!!! Expect 20-30% fall on MONDAY.
much better than i expected, i guess this will jump somewhat on monday
The worst til last...final paragraph of Sports Direct results shows the company has just received tax demand from Belgian authorities of €674 million, including 200% penalties and interest
Just read. The devils in the detail and its been spun quite well. HOF is an Achilles heel they want to keep and will cost a lot to re-align. Current Market sentiment of the high street id dire and they are opening everywhere. Unsure about this and third party Brand relationships are dire when he has a history of poor management and poor service. Like the milk industry he definitely has been squeezing them for better margins and something will give.
Margins look good but its spun again here.
NO dividend is always viewed negatively but a wise move. Market will decide which direction this will go if all the news is out, but I dont think it is. I cant see them paying any DIV for a long time while HOF absorbs Cash flow now that they found a can of worms.
My take, RESULTS are okay but the market will use foresight to direct which way the sp goes.
Swing up Monday and im opening a second £50 pp short as this will sink later.
They look ok
The only thing that surprises me is that people are surprised! We are talking about MA here... What do people expect? He has been walking a tightrope for a very long time and the City would love to see him fail.
Delayed accounts are one of the very worst signals to the market, id guess there is going to be significant writedowns due to HOF but while the results may be bad they may not be worse than is already is priced into the SP. gla,
Been in this game a long time. Never seen anything like this before.
I smell a rat.
Has SPD gone insolvent?
4:33 and still nothing. What a carry on!
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If these results are not bad this is a joke
.
Wouldn't surprise me if this happens. After all Its owned by a city hating ****.
Seeing as the RNS issued on 24th July titled
"Confirmation of preliminary results announcement"
Informed the market that:
"Further to its announcement of 15 July 2019, Sports Direct confirms that the Company's audited results will be published on 26 July 2019"
SPD are at risk of misleading the market. With which comes consequences.
Meta, absolutely agree.
This will no doubt be the proof of why he should have bought DEB back in October once his restriction was lifted. Looks like an impending disaster for shareholders here now when it could have instead been reflecting on creating the Harrods of the high street by combining HOF and DEB. In hindsight, he was just too tight to do the deal.
Foxy, this is an open goal isn't it?
Goodluck with this one, Mr Ashley is undoubtedly able but treats SD as his personal fiefdom with contempt for pretty much anyone elses opinions. Worse, he appears to have lost his golden touch - why does he think he is the only person not affected by the change in retail habits?
As predicted, nothing at 14.00 either. Update now at 16.00. My prediction they will tell us it is being put off over the weekend.
Strongest of strong, strong sells.
£25 per point with a g/tee dto less at 2.65