Profits plunge at Mike Ashley's Sports Direct

Profits plunge at Mike Ashley's Sports Direct
 

Mike Ashley's Sports Direct has seen half year profits dented as the retailer flagged that sales in the UK fell following store closures, reduced online promotions and as a result of Brexit hit pound.
The retailer said that statutory pre-tax profits plunged 67.3% to £45.8 million in the 26 weeks to October 29, which Mr Ashley put down to "fair value adjustments and transitional factors such as the disposal of assets".
Last year's profits were also flattered by the sale of a chunk of shares in rival JD Sports.
UK retail sales fell by 1.4%, mainly due to reduced online promotional... read more

 
14 December 2017 in Regional North East, Views: 23
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