Two thousand Sports Direct staff are set to receive a £18,000 bonus in September on the back of bumper sales growth at the retailer.
As reported this morning profits at Sports Direct increased 16% to £383.2m in the year to April 26, surpassing the fourth and final target of the 2011 share scheme. 2,000 employees will get 5 million shares in the first awards under the scheme.
However, because Sports Direct has not delivered the acquisitions the market had expected over the past few years, management has revised its 2015 bonus target down to £420m from £480m, which chief executive Dave Forsey said was “unreasonably challenging”.
Three-quarters of Sports Direct staff are on zero-hours contracts and are not eligible for the bonus scheme.