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Drapers Share monitor - Sports Direct slowdown worries City

Sports Direct's warning that sales are slowing barely two months after its flotation has increased the City's frustration with the group in the past week. Following downgrades, its credibility among City analysts has hit rock bottom. Shares fell 8.75p to 236p, compared with a float at 300p.

In stark contrast, other sports stocks were in favour, with John David Group's strong sales figures last week pushing the share price up 19.25p to a year high of 509p. Shares at JJB Sports were up 17.25p to a peak of 281.5p.

Marchpole signed a deal last week for its Jean-Charles de Castelbajac brand to create a range of fashion headwear this summer, in collaboration with baseball cap company New Era. Shares rose 13.5p to 178.5p.

It emerged that discount chain Instore's top shareholder Tradegro was poised to sell up to half of its 65% stake, with management changes expected. Shares rose by 1.75p to 23.75p.

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