Mike Ashley, the billionaire founder and majority owner of Sports Direct, faces a potential shareholder revolt at the company's annual meeting on Wednesday, though he will not be present to hear any protests.
The high court in London ruled on Tuesday that Mike Ashley's Sports Direct International Plc must share documents related to the accounting regulator's probe into its auditor's conduct of 2016 accounts.
Britain's JD Sports promised on Tuesday to back up its purchase of U.S. chain Finish Line by investing £200 million over the next five years after overseas growth helped fuel a 19 percent rise in first-half earnings.
JD Sports is a business that can't seem to put a foot wrong at the moment and after a stunning first half it said H2 has started well. While its Outdoor business suffered from the hot summer, its main chain is on a roll.
The outdoor retailer’s CEO Eoin Comerford has responded to the sandstorm kicked up by the recent opening of its Premium Outdoor Store on Walmart’s e-commerce platform as a number of brands pull out of the storefront.
The UK menswear sector has been growing for some time and that trend is expected to continue for the next four years, according to the latest report from digital analytics consultancy agency Onefourzero.
A spokesperson said 15 members of staff have been laid off, however an industry insider put the figure closer to 80. The move comes a little over a year after the brand was acquired by two Walmart heirs in a £200m sale.