Tag : Sports Direct
Frasers Group reviews furlough payments Subscription
Mike Ashley’s Frasers Group, formerly known as Sports Direct International, has decided to keep salary levels at 100% in May for the majority of its employees.
What you may have missed from this weekend’s newspaper.
Frasers Group shopworkers face uncertainty over their jobs, after the Mike Ashley-owned chain u-turned on its decision to open stores during coronavirus.
Frasers Group has U-turned on an announcement that Sports Direct and Evans Cycles stores were to stay open during the UK’s new lockdown measures, and will now not open stores until it receives the “go-ahead” from the government.
Frasers Group has said that it will not meet its growth targets for 2020, because of the coronavirus outbreak.
Frasers Group buys stake in MulberrySubscription
Mike Ashley’s Frasers Group, formerly known as Sports Direct International, has bought a 12.5% stake in British luxury handbag company Mulberry.
The retail industry is calling for urgent action on business rates from the government as high streets across the UK prepare for another wave of store closures.
Frasers Group closes further Jack Wills storesSubscription
Frasers Group has announced the closure of a further six Jack Wills stores, after its acquisition of the lifestyle brand last August.
Mike Ashley’s Frasers Group, formerly Sports Direct, has called for an “urgent fundamental review” of business rates to prevent “desolate” high streets in a letter to the prime minister Boris Johnson.
The top 10 stories of 2019Subscription
2019 has been a tough year for fashion brands and retailers, which is reflected in the rather dismal tone of many of this year’s top 10 most-read online stories.
Luxury retailer Flannels has opened its biggest store yet in a former House of Fraser store on Belfast’s Victoria Square.
Sports Direct will decide on the closure of loss-making House of Fraser stores within “months” if the government fails to change the current business rates system, CEO Mike Ashley has said.
Sports Direct revenues riseSubscription
Mike Ashley’s Sports Direct International has reported rising revenue and profits as the retail group reaps the rewards of acquisitions, a strong performance in its premium lifestyle division and the sale of its Shirebrook distribution centre.
Drapers investigates the dominance of Nike and Adidas in the sportswear industry as they both shift toward direct-to-consumer strategies.
Mike Ashley is to close the Milton Keynes House of Fraser store, blaming Harrods for the expected 172 job losses.
Sports Direct offers up Lillywhites London leaseSubscription
Sports Direct could be on the cusp of ditching its Lillywhites store on London’s Piccadilly Circus, having reportedly put its lease on the market.
Sports Direct's Ashley settles US legal disputeSubscription
Sports Direct owner Mike Ashley has settled a US legal dispute, days after he was called to give evidence under international law.
Sports Direct to rebrand as FrasersSubscription
Sports Direct International plc is set to rebrand as Frasers Group to reflect its “changing profile” and “elevation strategy”.
The industry is calling for government support as scores of retailers across the UK cut head office roles in a bid to reduce costs and combat tough trading conditions.
Mike Ashley seeks rent negotiations Subscription
Mike Ashley is reportedly asking landlords to agree to turnover rents across his entire estate, whereby up to 15% of fees would be linked to in-store sales.
Nike pulls product from AmazonSubscription
Nike is to stop selling its product on Amazon, as part of its ongoing strategy change to sell directly to customers.
Sports Direct’s Mike Ashley has claimed the UK’s competition watchdog published “incorrect estimates” of its market share data in the investigation into JD Sports’s £90m acquisition of Footasylum.
Sports Direct acquires retail parkSubscription
Sports Direct has acquired the Brookfield Shopping Park in Cheshunt, Hertfordshire, for £25.4m.
Retailers squeeze suppliers for discounts Subscription
Suppliers to the UK’s biggest high street chains are feeling the pinch as increasing numbers of retailers seek discounts to offset sluggish sales.
Sports Direct axes more Jack Wills storesSubscription
Sports Direct has announced the closure of a further five Jack Wills stores following its acquisition of the lifestyle brand last month.
A third of Sports Direct investors reportedly voted against Mike Ashley maintaining his role as CEO at the group’s annual general meeting yesterday.
Sports Direct has reportedly asked the four biggest accountancy firms in the UK to hold fresh talks about working with the business ahead of its annual general meeting today.
First look: Inside Flannels' Oxford Street flagship Subscription
Drapers takes a tour of Sports Direct’s £10m Flannels flagship on London’s Oxford Street.
Mike Ashley faces shareholder revolt Subscription
Sports Direct boss Mike Ashley is reported to be facing a shareholder rebellion ahead of the retailer’s upcoming annual meeting in September.
Four forces redefining the high streetSubscription
As the retail industry returns from its collective summer holidays and looks ahead to the autumn season, Drapers recaps how the high street has changed so far this year
Sports Direct eyes smaller auditorSubscription
Sports Direct is reportedly holding talks with MHA Macintyre Hudson to become the retailer’s auditor.
'Terminal' HoF extends administration periodSubscription
House of Fraser has extended its administration for a further 12 months, just weeks after owner Sports Direct Group branded problems at the department store as “nothing short of terminal in nature”.
Sports Direct shutters Jack Wills storesSubscription
Sports Direct has closed eight Jack Wills stores, and more are closures likely if it cannot achieve lower rents across the remaining portfolio.
Sports Direct auditor Grant Thornton resigns Subscription
Mike Ashley’s Sports Direct has announced that Grant Thornton has decided not to seek reappointment as the company’s auditor.
Jack Wills’ new owner, Sports Direct, is asking landlords to accept rent-free tenancy agreements across some of its worst-performing stores, Drapers can reveal.
Sports Direct seeks Jack Wills rent cutsSubscription
Jack Wills’ new owner, Sports Direct, is reported to be negotiating with landlords to slash rents across its 100-store portfolio.
This week Drapers celebrates an incredible 132 years. Looking back at the industry over that time there have been huge changes and challenges to overcome but there has also been plenty to celebrate.
Questions over Ashley’s strategy with Jack Wills Subscription
Industry insiders have questioned Mike Ashley’s long-term strategy as he continues to “irrationally hoover up the high street”.
Sports Direct frontrunner for Jack Wills sale Subscription
The private equity owner of Jack Wills, BlueGem, is reportedly close to agreeing a sale of the business to Sports Direct’s Mike Ashley.
Sports Direct has hit back at rumours that its audit partner Grant Thornton has quit over the group’s €674m (£605m) tax bill from Belgian authorities.
House of Fraser suppliers hit out at Ashley’s U-turn Subscription
House of Fraser suppliers have told Drapers they fear for the future of the struggling department store chain and questioned if Sports Direct’s Mike Ashley did his due diligence before he bought it.
House of Fraser weighs heavily on Sports DirectSubscription
Ahead of Sports Direct’s delayed results, expected on Friday, Drapers analyses Mike Ashley’s progress in transforming House of Fraser into the “Harrods of the high street” and integrating it into the group alongside premium fascia Flannels.
Sports Direct drops Debenhams CVA challengeSubscription
Sports Direct has dropped its challenge against Debenhams’ company voluntary arrangement, but will continue to fund that of property agent Combined Property Control Group (CPC).
Sports Direct delays results Subscription
Mike Ashley’s retail empire Sports Direct has delayed announcing its financial results, following speculation about a fall in earnings, in a year in which the group pursued several large-scale takeover bids.
Sports Direct’s company secretary Cameron Olsen has stepped down after 15 years at the company.
Sports Direct's head of retail exitsSubscription
Mike Ashley’s head of retail, Karen Byers, has resigned from Sports Direct after 28 years.
Sports Direct challenges Debenhams CVA Subscription
Sports Direct has submitted a legal challenge to Debenhams’ company voluntary arrangement (CVA), which was approved by creditors last month.
Malaysia pension fund buys Sports Direct HQSubscription
Mike Ashley’s Sports Direct Group headquarters has been sold to Malaysia’s Employees Provident Fund (EPF) for $153 million (£120m), the Sunday Times has reported.
Sports Direct sells MySale stakeSubscription
Sports Direct International has sold its share in Australian etailer MySale Group.
Mike Ashley’s Sports Direct International is attempting a legal challenge to Debenhams’ restructuring proposal, which was approved by creditors earlier this month.