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Started: latpulldown, 7 May 2021 12:39
Last post: latpulldown, 7 May 2021 12:39
For Mikey's empire.
Most reopened shops seem to be doing well and he has picked up anything going cheap from the administrators for the recovery from Covid.
Started: RachelsDad, 24 Aug 2020 15:13
Last post: RachelsDad, 24 Aug 2020 15:13
Good old Mike....smash and grab again from the receivers!!
Dave Whelan must be well ****ed off!
Started: Rockfire, 16 Dec 2019 23:12
Last post: volcano, 17 Dec 2019 13:42
i agree mate take your profits and buy a fat turkey for Christmas, nice.
Started: Chicmiller, 16 Dec 2019 11:03
Last post: volcano, 16 Dec 2019 18:43
What a day i got my wish come true .
You've got to hand it to MA. Full marks Sir.
Why didn’t I buy in under £2 , gutted.
Started: baserite, 2 Aug 2019 11:45
Last post: volcano, 16 Dec 2019 09:36
Average volume 578.52k
Shares outstanding 521.66m
Free float 175.12m
The Company has entered into an agreement with Liberum Capital Limited to conduct the Programme on the Company's behalf and to make trading decisions under the Programme independently of the Company. The aggregate purchase price of all shares acquired under the Programme will be no greater than £30,000,000. The maximum number of shares that may be purchased under the Programme will be 10,000,000 ordinary shares.
Hey ups whats going on here at Ashleys Empire!!!!!!!!!!!!!!!!! SPD Sports Direct
https://uk.advfn.com/p.php?pid=legacydaily&epic=L^SPD&type=4&size=3&period=4&ind_type1=1&ind1_1=&ind2_1=&olx_1=3&ma_type1=3&o_1maday1=10&o_2maday1=&o_colour1=1&olx_2=3&ma_type2=3&o_1maday2=25&o_2maday2=&o_colour2=2&olx_3=3&ma_type3=3&o_1maday3=200&o_2maday3=&o_colour3=3&scheme=&delay_indices=DELAYED_INDICES
getting near a breakout longer term.......
https://uk.advfn.com/p.php?pid=legacydaily&epic=L^SPD&type=4&size=3&period=6&ind_type1=1&ind1_1=&ind2_1=&olx_1=3&ma_type1=3&o_1maday1=10&o_2maday1=&o_colour1=1&olx_2=3&ma_type2=3&o_1maday2=25&o_2maday2=&o_colour2=2&olx_3=3&ma_type3=3&o_1maday3=200&o_2maday3=&o_colour3=3&scheme=&delay_indices=DELAYED_INDICES
forward p/e 17.6 2020.
Always a controversial character Ashley rebranding the business.......
https://www.marketscreener.com/SPORTS-DIRECT-INTERNATION-9590226/news/Sports-Direct-International-Mike-Ashley-to-rebrand-Sports-Direct-for-new-high-end-image-29642523/
Its not a smooth ride but 214p to 248p since the latest share buy back started on 29th July. It's max 10m shares up to £3 and finishes on 10th September. Feels like it will keep climbing till 10th … could get another nice 20% rise in by then from Friday's close. Day traders paradise.
See he’s added another retail basket case in Jack Wills to add to his problems.Totally mystifying imo.
Started: Pearls, 11 Sep 2019 11:18
Last post: Greece, 25 Nov 2019 12:28
Any news on this? Is it going further up or should we sell?
So it's made £3 … 11 days before the closed period so unlikely to get a new share buy back tranche at £3.50 or £4 before 25th Oct ... closed period through to December interims (was 13th Dec last year) ... hence am guessing we will have a couple of months of flatlining
I'm not sure he ever stood much chance on the court case with the level of landlord support unfortunately.
On Cambridgeblue's question - MA is on about 62% of the company but each buy back is relatively small 10m shares=c.0.2%. I don't think he is trying to take the company private - it makes his assets illiquid and stops his opportunity to make a profit from trading shares. If you look at his track record over recent years then there is a pattern that could be explained as: bad news (inc negative PR) dropping the share price … then a period of 2or3 share buy backs (using up the strong cash flow from the business) getting the share price up (often coupled with better news from the company) … and then MA selling £100m or £200m worth of shares at the higher share price. Net Net he ends up with the same % but has received £100-200m pre-tax in effect using company cash flow of only £60-100m that if it had been dividend'ed out then he would of only got his 62% share pre-tax. Watching his share buy backs over the last 5 years has been interesting
DEBENHAMS GROUP
Outcome of Challenge to CVA
Debenhams notes that the judgment in court this morning has affirmed that its CVA proposal continues to be effective. The challenge to our CVA was rejected on four of the five grounds of challenge, and the remaining ground has been addressed by the deletion of a technical provision of the CVA relating to landlord forfeiture.
Stefaan Vansteenkiste, Debenhams' CEO, commented:
"We are delighted that the court has today confirmed that our CVA is effective and will continue to be implemented as planned. We note that the only aspect that the judge required to be adjusted was a technical provision of the CVA relating to landlord forfeiture provisions.
"Our proposals had unprecedented levels of support from our landlords and today's outcome is good news for our 25,000 employees, our pensioners and suppliers. We retain the support of our lenders, and everyone at Debenhams can continue to focus on trading ahead of the important Christmas period."
Well what is the difference in % that MA owns before and after the recent buybacks ?
He’s taking it private.
1.5 million shares traded out of 532million total, 11% drop because of an auditor walking away after 10 years?
Started: lignumvitae, 14 Aug 2019 08:16
Last post: lignumvitae, 14 Aug 2019 08:16
Today's RNS. One tainted brand ditches another !
Started: Ejackson, 31 Jul 2019 00:00
Last post: Ejackson, 31 Jul 2019 00:00
https://news.sky.com/video/sports-directs-debenhams-stake-time-will-tell-11442616
Great to see such inspired nepotism being laid bare. The synergies between Debenhams and HOF have sadly not been allowed to play themselves out under the ‘expert’ leadership and guidance of SPD And the likes of MA’s daughter’s boyfriend who is the ‘future of the business’.
And after watching such an insightful interview from the ****y, dry mouthed little upstart how could you not be a follower and throw as much money as you can into SPD and back MA all the way to the land of unicorns and fairies.....??? A truly shocking state of affairs whilst all the seasoned members of the Board together with reports that the second tier auditors Grant Thornton continue to race for the Exit sign thereby leaving an ever increasing proportion of sycophants in the MA echo chamber of corporate governance doffing their cap to the mighty Man himself.
In the meantime the share price defies gravity. Truly extraordinary and I can only wait for the next instalment but given the brazen approach of MA, one thing is for sure, it won’t feel shocking when it is delivered.
Started: Looptheloop, 29 Jul 2019 20:57
Last post: KRSS, 30 Jul 2019 13:04
Weak GBP is also a factor to hit retailers depending on level of imports, weak GBP is going to help miners like POG, where gold price is up , dollar steady , and multibagger company turn around
PS: but, agreed, the resignation of their current auditor is a red flag.
Too early for someone to step forward.
It'll be for SPD to choose their next auditor, after shortlisting.
"How can 674m euros = $1.2bn?:
The issue isn't the FT's calculations - I think it should be more like $750m - but potential they might end up with an auditor appointed. One appointed by the Department for Business. Even with the very outside risk that will happens it's going to very difficult. You've got to wonder haven't you. Why there's no one who wants to step forward?
That isn't a matter of calculation, but it is a very large red flag.
Must be including Grant Thornton’s fees for their quality audits
Started: Jimbo1122, 29 Jul 2019 21:45
Last post: Jimbo1122, 29 Jul 2019 21:45
Should read "Corporation".
I think i may be turning into Donald Trump--heavens above.
Last post: ocelot, 29 Jul 2019 20:11
Broker on Bloomberg has announced today that in its opinion Sports Direct could go bust within six months.
------------
Which broker, baserite?
Appears highly unlikely, given the solidity of the core business.
Perhaps the lack of fall today reflects two simple realities:
a. MA owns most of the company so there's only a minority of stock floating in the free market.
b. the market knows that MA has very little time for them and is a one off, often acting eccentrically. He is likely to take the company private if the price drops enough .....
Typo -Shorters.
Shortest will definitely imo be all over this in the coming days.Broker on Bloomberg has announced today that in its opinion Sports Direct could go bust within six months.More horrors to be revealed from House of Fraser methinks .
Amazed this was not much lower today, after the shambles last Friday and bad news. I think the shorter may be all over this stock tomorrow as many were expecting this lower. This company is the worst run so I don't expect sudden good news.
impressive - down just 3.9% now, at 220.80p.
Well I was thinking £1.50 today so happy to admit to being way out - it helps that MA holds over 50% of the share issue - we are still looking at a 10% drop and significant drop over the last six months - I guess you need to compare the share price performance to the rest of the sector..
still waiting for that £1 share price everyone was raving about over the weekend....
The tax is a contingent liability.
Grant Thornton haven't "cleared" potential tax liabilities: for the present, 24 hours after receiving the proces verbal, it is being treated as a contingent liability (how could it be treated in any other way?).
Do people honestly think after pat val that Grant Thornton would of rushed into clearing £600m in potential tax liabilities unless they knew with near 100% certainty that it wouldn't come to fruition after less then a day of reviewing?
Flannels although a tiny part of the business is booming is is primarily online driven, Sports Direct are holding their sales give or take 1-2% with margins actually increasing.
HOF is garbage but they recognise this, they havent announced pouring millions into it, theyve recognised the loss makers and are acting accordingly. My local HoF ( Beatties wolverhampton) is up for sale for £3m, they have 50+ HoF sites....do the match ( yes i know they dont own every building). HOF will probably be kept to about 10-15 of the best stores just for high street visibility with a push to online sales as the brand name is still well recognised, There is also procurement benefits in shared products across the premium brands like Flannels.
You will start to see stores opening similar to Next which has been fantastic, large retail space with space taken up for coffee shops, virgin holidays, card shops, but for SPD, a small game, flannels in HoF stores with SPD.
Strong negotiating power on the high street for rent, SPD is going nowhere but up.
Last post: Faulkes, 29 Jul 2019 14:13
If the tax is owed and paid, this will take a bigger bit surely? At the moment it’s being held up by hope...?
I'm utterly astounded the SP has held up so well today - and even more surprised people are still buying. How wrong can you be?
lol. I said 20% on Friday but got more than I bargained and bagged a nice short very quickly. Sitting on a second short now as it will drift. Without guidance, this will always go one way.
For the present, the share price is down about 9% at 208.60p.
For the present, therefore, the darkest predictions for the share price this weekend have been dumbfounded and it rather looks as if this board was feeding on itself with doom and gloom.
If and when they get to grips with House of Fraser, one wonders where the share price could go.
Faulted, agree. There’s absolutely no forward guidance from SPD
Started: Pearls, 29 Jul 2019 09:49
Last post: Pearls, 29 Jul 2019 11:37
egg, at least Labour aren't in charge. There, the nutters are in charge.
So who managed to bag the bargain shares first thing this morning?
winning party? surely not the brexit party? Well I guess in trump is in why not.
Childern of men seems to be the future
nonetheless, if this Brexit vote had been an election democracy would have had its way by now, and no doubt the 'winning party' would have been promising all sorts of things in the run up, no difference there then and there would be no 2nd vote pre 'winning party' moving in to no. 10 if they hadn't liked who they had voted in, the only difference is the 'winning party' hasn't yet 'moved in'
well he played a blinder here looking at sp
Last post: RMR1969, 29 Jul 2019 10:18
Interesting that this has not dropped further as predicted by many, whether it be the timely buyback which was announced or the general view that the £600m tax bill will not actually end up that big......who knows, anyway, what are views on MA taking this back private so he can in some way fly a bit more under radar with his business dealings, surely he has to be considering it, in my experience, founder owners like MA just don't like being held to account by the City
Started: Foxykiwi, 29 Jul 2019 09:26
Last post: zccax77, 29 Jul 2019 09:30
Be positive guys atleast the 600m is likely to stay in the uk per the market instead of being siphoned off to one of the highly taxed nations on earth. I doubt Belgium would notice 600m anyway.
I didnt doh
reopening on after auction
me included, I'm guessing the market doesn't believe the tax bill will be paid, well not much of it anyhow
In the words of the Immortal Brian Blessed.....
Ready my Hawkmen...
DIVE....
GL
Z77 we will soon see in the next 10 hours
We'll see if there's any more fallout out today from Friday's shambolic performance from Sports Direct, when it failed to produce its results on time, having already delayed them once.
When it did publish the results, there was an unexpected £605m tax bill from Belgian authorities.
"This is amateur week... it is frankly a pathetic way to run a business," says Justin Urquhart Stewart, from Seven Investment Management.
"Mike Ashley doesn't care about the City [investors] very much. As far as he is concerned he is used to running a business his way."
House of Fraser, which Sports Direct bought a year ago, "is a mess and really needs sorting out", Mr Urquhart tells Wake Up To Money.
This was 280p before the shenanigans. Why would it drop 50% from 230p. Again being too negative.
Started: Pearls, 29 Jul 2019 08:54
Last post: devonplay, 29 Jul 2019 09:02
"Should have bought Debenhams after all"
I'm sure the shorters would have loved that! LOl Imagine what state they would have been in now....
Begins at 8am
Should have bought Debenhams after all
HOF is a complete basket case on its own - as expected
Started: martin1, 29 Jul 2019 01:17
Last post: martin1, 29 Jul 2019 01:17
Did buy small amount of Shares here it did not realise this is now disaster
Last post: KNIGELK, 29 Jul 2019 00:02
The Telegraph tonight states that the auditor was only told on the day! (Friday?)
So that auditor can't ask for a provision if they don't know about it!!!
How the heck did Grant Thornton let them get away with not putting a provision for the 600m in their numbers. I can understand why the Big 4 barge pole SPD, not worth the hassle, they will be glad they did.
Ocelot some info has passed you buy... whatever the paper lose dump when out of auction this is a week straight down
They would be if they had to accrue that £650m
Bit of an exaggeration: its earnings took a hit, but the group isn't in loss!
Started: investor112, 28 Jul 2019 07:57
Last post: Foxykiwi, 28 Jul 2019 13:00
lol.. you mean turning to bust not dust
Can see share price falling to around £1 mark or lower everything he touches turns to dust
Last post: Autonomy1, 28 Jul 2019 00:13
The company can only buy back 25% of the daily volume
The daily volume is normally around 500,000
so do the maths even if you multiply it all by 10 I think the buy back may support it to a certain extent,however I dont know what the price may be to do this
As an outsider to all this he currently seems to have turned from someone with a Midas touch to the exact opposite. Everything he touches turns to....er…...poo. Monday will have no effect on me I'm afraid, the SP could become 10p and I wouldn't touch it, because I can see no logical basis to value this mess.
I don't know how many people he employs, but he's doesn't care about employs lives.
All he think about about is this next billion
I don't have invested here but this Mike Ashley is an idiot buying all these companies about to go under only to find out that they own hundred of thousands of tax in other countries.
Not to mention the other companies he's brought that could be that digging a big hole in.
I wouldn't put 1p in this idiot.
All he's doing is buying on the cheap to sell a few years later at a higher price IF he laster that long.