I think this stock is a bargain and should easily double from here.but don't just take my word for it Conrad Windam from lemming investor wrote this:


21st July 2004

The Eagle has left the nest, and plenty of feathers have been ruffled as a result. I am of course talking about the adverse departure last week of Simon Eagle, former Chairman and Director of SP Holdings. Eagle departed his position with the company through mutual consent, due to his misdemeanours elsewhere in the city. The knee-jerk reaction that the city always affords such situations has unduly affected SP Holdings, thus creating an opportunity that investors might wish to look closer at.

SP Holdings is a below the line marketing services group providing a range of services to the sports, entertainment, leisure and retail sectors across Europe, Asia, and South America. The companys client list boasts such names as the BBC, Tesco, JVC, Leeds Utd FC, Nationwide, and BAR F1, not bad for a company the size of SP Holdings.

On 5th July the company announced a major licensing agreement with Manchester United Merchandising Ltd, the clothing and fashion subsidiary of the worlds most valuable football club brand, Manchester United FC. The master licence will initially run for four years and is expected to generate a profit of 3 million over the period to the company. The profit of 750k per annum from this deal alone more than supports the current market capitalisation of 6.34 million.

Interim Results for the period ended 30th April are due for release on Friday, 23rd July. Having spoken with a director at SP Holdings I can confirm that the company remains perfectly happy at reaching the forecasts from house broker Seymour Pierce.

The forecasts from Seymour Pierce in their note dated 5th March anticipate EPS of 0.97p for the current year, rising to 2.89p in 2005. The figures suggest that the company trades on a current PE of 18.5 falling to 6.22 in 2005. I believe therefore that the price is far too low, especially considering that these forecasts were compiled before the major licensing deal with Manchester Utd Merchandising Ltd. I understand that Seymour Pierce will be updating these figures next week.

Simon Eagles holding in the company has been placed with institutions at a disappointingly low price of 12p. Whilst investors have been dissatisfied with the price that institutions have been able to pick up stock at, it does strengthen the shareholder base with further commitment to the company from institutions. Furthermore the serial investor David C. Newton has taken the opportunity to increase his stake in the company to 6.25%.

I should declare that I brought stock in the company this week at 17.5p. I believe that there are no concerns with how the company is trading, and that the recent complications surrounding the departure of Simon Eagle have created an interesting opportunity for shareholders. The directors themselves purchased shares at 19.5p in March.

The companys website is www.spholdings.co.uk

Check out the recent contract news.

One of the reasons I am in this share is because david newton has a stake in it.

The last stake he took was in hansard(hsd) which has risen from 25p to 121p in the last 2 weeks(yes-really).I certainly am not expecting the same rise!I am expecting a big rise though in the next 2 months.

Check it out

See it made the fromt page on Friday

Looks like someone is accumulating blocks of 50K

Nice move up and tight spread.

100K MM buy indicates not alot of stock around.

Client list.

http://www.spholdings.co.uk/clients.html

Moving up again ;-)

Continues the move back to 26p

NS Number:7346B
SP Holdings PLC
06 August 2004


SP Holdings PLC

('the Company')

The Company has been informed that yesterday the following directors have
purchased ordinary shares of 10p each in the Company detailed below at a price
of 19p per share.

Director No Shares Total No Shares Percentage
quired Held of Share Capital
Anthony
Simpson 25,000 1,711,860 4.85%
Matthew 13,500 1,851,640 5.25%
Patten
Stephen
Hayward 25,000 790,741 2.24%
Nick Bitel 13,500 13,500 0.04%



Enquiries:
Tony Simpson
SP Holdings
Telephone: 020 7292 8950

Very positive to see Directors buying in.

the knowing??

Shh ;-)

We are BLUE

http://www.incentivetoday.com/pageSection/section_id=163/bl=58/cw=360/rid=111/upid=112/lgd=128/goto_section_id=394

"Lastminute.com sexes up brand offline with Ann Summers

After surviving the boom-bust of the online revolution, Lastminute.com has begun a new marketing drive to strengthen its brand offline.
SP Partnerships has created a nationwide high street promotional partnership that aligns several of the travel and leisure companys holiday destinations with the launch of Ann Summers new swimwear range.
It promises to be the first in a series of promotional partnerships that will be developed by SP Partnerships through 2004.
The current promotion runs until the middle of March, with Lastminute.com offering all Ann Summers customers free entry into a prize draw to win one of three luxury holidays.
Options include seven nights in Barbados, four nights in Cairo or four nights in Dubai, involving five-star bed and breakfast accommodation, and return flights and taxes.
In return, Ann Summers is undertaking a strong advertising campaign surrounding the competition, all featuring Lastminute.com branding.
This includes window stickers in all 110 of its stores across the UK, placement stands in-store, pavement stands outside the stores, point-of-sale register leaflets and editorial on the Ann Summers website, www.annsummers.com.
Vijay Solanki, marketing director of Lastminute.com, said: Lastminute.com is about lifestyle and inspiration and, from time to time, is a bit edgy, so partnering
with Ann Summers is a good marketing fit for us, especially as the majority of our browsers are women.
Unlike our competitors, we are very watchful for cost-effective customer acquisitions and more cost-effective ways to develop awareness, so we regularly exploit promotional channels so long as they are the right brand and the right execution.
SP Partnerships managing director Chris Reed said: Lastminute.com is a great brand to work with and we are delighted to be helping to further their brand
positioning in the offline market by developing an ongoing affiliate partnership programme.
Through these sorts of partnerships, Lastminute.com can achieve creative targeted exposure in addition to advertising campaigns.
Lastminute.com has been running other promotions, developed in-house, to extend its profile offline.
It has linked up with Vodafone to offer a chance to win a VIP weekend. Phone users enter by sending a 12p picture message to the number 3399. They can choose between a weekend in Barcelona, a London Fashion Weekend, or a trip to Rome to watch the Roma vs Lazio football derby.
Participants also receive 5 cashback when they spend 15 or more when accessing Lastminute.com via their phones.
The activity is backed by 800,000 co-branded bill inserts, 120,000 promotional leaflets and in-store promotions on plasma screens in 300 Vodafone outlets.
It has also linked up with the 41-strong Vue cinema chain, formerly Warner Village and SBC International Cinemas. When film-goers buy a special combination of two regular Pepsis and a large popcorn for 7.95, they get 5 cashback from Lastminute.com. They also have the chance to win a family holiday for four to Las Vegas.
Lastminute.com has been strategically investing in cost-effective marketing initiatives, as well as acquisitions, to increase the overall reach of the brand offline in line with a mission to make Lastminute.com a part of peoples daily lives.
By the end of September last year, Lastminute.com had over 7.7 million subscribers to its regular newsletter. In January, it expanded offline with the 12.1 million acquisition of hotel booking agency First Option, giving it a physical branded presence across 21 locations within railway stations and airports.
SP Partnerships was brought on board because of its track record of promotional partnerships involving the likes of Eurostar, Virgin Megastores, Channel 4, Going Places, the Times, the Daily Mail and Ces du Rhe.
It was formed last month as a spin-off division by SP Active, which has more than doubled its client base since acquiring Chris Reed Marketing in August last year.
Chris Reed, who is now managing director of SP Partnerships, said: As a name, SP Partnerships distinguishes us from any competitor because it immediately identifies that partnerships are our core business. We match businesses together for partnership marketing, brand alliances, and promotions and loyalty to provide cost-effective marketing without the need to spend money on advertising. "

And from 3 August 2004:

http://www.mediaweek.co.uk/articles/2004/8/03/Moversandshakers

"SP Partnerships, the partnerships and promotions arm of SP Holdings, has recruited four new in-house marketers to comprise two new account teams. Charlotte Jennings and Jane Watson are new promotions managers, while Adam Ryan and Kirsty Auker join as promotions executives."

Looks like SPD are gearing up...

Buyers comming back in this morning

Nice to see a tick up today. Sure that we will see the offer up shortly.

Up again on the bid. Nice close spread for SPD. Also a delayed buy of 27K from this morning.

Nice contract win today.

What's the story here? halved since thread started yet got a feeling there might be better to come.

Hawick, your a BDI man, heard contracts from new customers on the way. Thought you might be interested. cheers GF.

Anyone know any more than announced on the suspension and resignations ?

Broker BUY reco

Just out this morning......

10-Dec-09 Sports Direct International SPD Seymour Pierce Buy 103.30p - - Reiteration

Must admit it was very volatile in the last 30 mins today.

Obviously we have been hit by foreign exchange loses but this is the most important part of any report and accounts....

Outlook


We made strong progress in reducing our net debt level in the half year and expect net debt to be at a broadly similar level at the year end.


We delivered strong results in the first half of FY 2010 against a difficult operating environment. With the best product range and our highly motivated staff, our trading performance since the end of October has continued to be robust. As such, and subject to stable exchange rates, we are targeting full year underlying EBITDA after the cost of the bonus share scheme of at least 155m.........ends

now lets not forget at the 22nd of october pre close trading statement, the company were saying EBITDA was ahead of forecast and they were going for 150 million then so within just a few weeks the target as been upped by 5 million and trading as been robust since october.

I personally think if we get a good day on the market tomorrow we will see a SP recovery to highs of today, lets not forget the buy volume was far higher than sales volume and I can see analysts tweeking up forecasts.

Staff benefit as Sports Direct profits rise

This is Money
10 December 2009, 10:33am

Sports Direct International
, owner of the Sports World chain of shops, is set to make payouts to thousands of UK staff today after raising profit forecasts for the second time this year.

The group, controlled by Newcastle United owner Mike Ashley, has upgraded underlying earnings predictions for the year to April to 'at least' 155m after strong first-half trading, up from previous guidance of 'at least' 150m.
This is the level at which the share bonus scheme it introduced in July to motivate staff will begin to kick in.

The scheme - which applies to all permanent UK staff with more than one year's service - will pay out 25% of base pay in shares which vest two years later.


Sports Direct, which owns Sports World and Lillywhites stores as well as brands such as Slazenger, Lonsdale and Dunlop, made an underlying profit before tax of 72m in the 26 weeks to October, a rise of 39% on the same period in 2008.

Revenue increased 10.1% to 757m but gross margin fell 270 basis points to 40.7%.

Sports Direct has traded relatively well through the
recession
, thanks to its value-led offering and the weakness of its main UK rival
JJB Sports
which came close to
administration
earlier in the year.

The firm also cut its net debt to 362m from 431m at then end of April this year. It said debt was now targeted to be at a similar level to this at its end-April 2010 year end. That compares to a previous target of 'below' 400m. No interim
dividend
is being paid.

'Although the operating environment is likely to remain difficult, we have motivated colleagues, a fantastic unrivalled range of products for our customers, and the World Cup to look forward to,' said chief executive Dave Forsey.

Shares in Sports Direct, which floated at 300p in 2007, have more than trebled over the past year

Sports Direct one to watch for a breakout of the triangle formation which would be a bullish signal.



Long term chart shows we are aiming to conquer resistance at two levels.....

Sports Direct sees value in licensing
Date: Thursday 10 Dec 2009

To achieve its new earnings targets for the full year, Sports Direct will be pinning its hopes on the World Cup effect to drum up custom at its 371 sports shops in the UK ahead of next summer.

Delivering half-year results today, the company raised its earnings before interest, depreciation and amortisation (EBITDA) estimates for the full-year to at least 155m from 150m previously.

The bulk of this will come from the companys retail operations both in the UK and abroad, but sports shops arent the only part of the business.

The firm, which is controlled by the Newcastle United owner Mike Ashley, also owns brands such as the quintessential British classics Dunlop and Slazenger.

Products bearing these august names are sold in Sports Direct outlets, but also through other retailers and this part of the business is crucial to the companys long-term success, particularly with supermarkets moving into the territory of specialised stores.

Wholesale operations are the biggest part of the brands business, but the firm is looking to increase its emphasis towards higher margin licensing.

Brands revenues in the half year to 25 October fell by 19.3% to 95.1m from the previous year, not insignificant in comparison with overall revenues, which were up to 756.9m from 687.7m. Sports Direct sells sportswear and equipment to non-sports stores such as Tesco and Asda.

Lower wholesale revenues accounted for most of the decline in brand revenues, with sales falling to 83.6m from 105.6m.

While it is important for Sports Direct to keep such channels open, it hopes to do so through licensing, which provides better margins as it secures fees without the costs associated with wholesaling. Sports Direct charges licensees to manufacture, market and sell products bearing its brand names, usually within specified geographical areas.

Licensing revenues in the half-year slipped to 11.5m from 12.3m, but the shift towards this part of the brands division from wholesales helped nudge gross margins up to 37.3% from 37.1%, which is important for the bottom line.

EBITDA from the whole brands division was flat at 9.2m so clearly it will have a minor role in contributing to Sports Directs target of 155m EBITDA for the whole year.

But reaching the widest possible customer base is crucial to the companys long-term success so the firm will be pleased that it has in the past six months signed 32 new licensing contracts with minimum royalties of $65m.

Out late yesterday......

Sports Direct International PLC

FORECASTS
2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Oriel Securities
15-12-09 BUY 110.00 12.70 140.00 16.20 3.00

trades on a forward miserly P/E of just 7/8 for 2011, derd cheap.

"Given this resilient performance, the Board is now certain of reaching both the full year underlying EBITDA target of £215m (before the charge for the bonus share scheme) and the "super stretch" scheme target of £225m announced at our Interim Results in December 2011."

Broker update this morning......

21 Jun Sports Direct... SPD Citigroup Buy 307.10 370.00 370.00 Retains

370p SP target.

Gone long SPD. Recent 52 week high football and olympics should boost revenues. Forward P/E 12.1 plenty of room for growth. Staff targets and bonus incentives galore. Ashley not a great admirer of him but he does know how to flog stuff.

Olympic Winners

http://www.iii.co.uk/articles/40003/stocks-could-win-gold-olympics

SPD Sports Direct

Putting some SP targets to
the brokers buy recommendations..

Sports Direct International Broker Views
Date Broker Recommendation Price Old target price New target price Notes

21 Jun Citigroup Buy 305.35 370.00 370.00 Retains
20 Jun Oriel Securities Buy 305.35 350.00 350.00 Reiterates
06 Jun Oriel Securities Buy 305.35 350.00 350.00 Reiterates
29 May Oriel Securities Buy 305.35 350.00 350.00 Reiterates
21 May Seymour Pierce Hold 305.35 285.00 285.00 Reiterates

370p to target will do for me
at moment. I expect this tobe
substantiallu upgraded after
olympics.

Broker upgrades on the way I reckon....

got them on the very cheap.

http://www.investegate.co.uk/Article.aspx?id=201210011556346376N

Sports Direct will report its pre-close trading update on Wednesday 24 October and its Interim Results on Thursday 13 December 2012.

On twitter SUN City Analyst
comment.........

steve hawkes ‏@steve_hawkes

Sports Direct has played a blinder here, taken KPMG to the cleaners.. £24m for all stock, 20 stores and Slazenger??....... ends.


Sure to be in tomorrows Sun and
other papers.

More comment on the acquisitions..

http://www.retail-week.com/companies/jjb-sports/jjb-sports-collapses-as-sports-direct-acquires-20-shops/5041299.article

UPDATE 1-JJB Sports falls victim to UK downturn, 2,200 jobs go 01 Oct 2012 - 18:00

* JJB names KPMG as administrator * Sells 20 stores to Sports Direct * Deal worth 23.7 mln stg, plus potential 0.25 mln stg * Remaining 133 stores closed, 2,200 staff made redundant (Adds details, quotes) By Neil Maidment LONDON, Oct 1 (Reuters) - JJB Sports is closing the bulk of its stores with the loss of around 2,200 jobs, the latest British retailer to fall victim to a downturn in consumer spending after administrators found a buyer for only 20 of its shops. Debt-laden JJB said on Monday administrators KPMG had sold 20 stores to British retailer Sports Direct , controlled by Newcastle United soccer club owner Mike Ashley, in a 23.77 million pound ($38 million) deal that would save 550 jobs. However, despite high levels of initial interest in the Wigan-based firm, the remaining 133 stores would close on Monday, making 2,200 staff redundant, it added. JJB has been battling falling sales and stiff competition from Sports Direct, its larger rival and an aggressive discounter. The group becomes the latest high-profile retail failure in recession-hit Britain after outdoor goods company Blacks Leisure and discount fashion chain Peacocks went into administration - a form of protection from creditors - earlier this year. The money raised will be used to repay its debt, JJB said, with shareholders not getting any return on their investment, as previously announced. JJB shares, which were valued at about 300 pence three years ago, were suspended at 0.4 pence. KPMG said it would now review the options available for the rest of the business, such as selling the leasehold interests of some of the remaining stores. The administrators said they had spoken with over 100 parties in the first few days of their appointment, with eight trade and private equity players tabling first round bids. "Unfortunately the level of cash and further operational restructuring required to rescue a more substantial part of the business was too much risk for most interested parties," KPMG's David McCorquodale said in a statement. JJB Sports was founded in 1971 by ex-Blackburn Rovers footballer Dave Whelan with a single store in Wigan, where the company is still headquartered. In August the firm said it owed around 36 million pounds in total, around half in bank debt and the other half in convertible loan notes. Sports Direct, which will also acquire nearly all the stock in the business and the Slazenger Golf brand licences, could pay up to a further 250,000 pounds after a post-sale stock take. ($1 = 0.6193 British pounds) (Reporting by Neil Maidment; Editing by Mark Potter) ((neil.maidment@thomsonreuters.com)(+44 0207 542 2292)(Twitter @ReutersMaidment)(Reuters Messaging: neil.maidment.thomsonreuters.com@reuters.net)) Keywords: JJB/

All closed yesterday afternoon.
No messing.

Was reported on Radio 5 live
1 hour before RNS announcements
that all stores had been shut up
with shutters down.

Should be able to convert over
to Sports Direct store layout VERY
Quickly plus they have obtained the
JJB online site aswel.

Very speedy earnings enhancing imo.

Expect to see broker upgrades over
next 48 hours.

Looking for big broker upgrades
here.

Dont forget Ashley will also hand
pick the other sites not sold by
JJB on a slow selective basis so as
to not alert the Competition Board.

EPS over the next 9 months should
rocket ahead making SPD very cheap
whilst more or less having a monopoly
position.

SPD SPORTS DIRECT


Digital Look stats..... below

looking for JJB Sports sales for last year.

JJB Sports FundamentalsYear Ending Revenue (£m) Pre-tax (£m) EPS P/E PEG EPS Grth. Div Yield

30-Jan-11 362.89 (181.37) (245.75)p n/a n/a n/a n/a 0.0%
29-Jan-12 284.21 (101.13) (21.54)p n/a n/a n/a n/a 0.0%

£284 million last year.

Just think what SPD can do and convert that figure to profit wize.

Cheers Skinny saw it on teletext aswel....

Sold JJB Sports stores inundated with shoppers

Shoppers have been descending on stores of the collapsed JJB Sports chain that have been sold to rival Sports Direct.

Sports Direct bought all the remaining stock from JJB and is now shipping it to the 20 shops it has bought.

Those shops are likely to continue trading until the stock has been sold before they close to be rebranded as Sports Direct.

The 133 stores that were not included in the sale have all been closed with the loss of about 2,200 jobs.

RNS
RNS Number : 7695N
Sports Direct International Plc
03 October 2012



3 October 2012



Sports Direct International plc



Analyst Visit to Shirebrook



Sports Direct International plc, the UK's leading sports retailer, announces that it is holding a sell-side analyst visit at its Shirebrook headquarters today.



The visit will be hosted by Dave Forsey, Chief Executive and Bob Mellors, Finance Director alongside operational management.



No new material information will be disclosed during the visit.



- End -



For further information, please contact:





Sports Direct International plc

Dave Forsey, Chief Executive

Bob Mellors, Group Finance Director


T. 0845 129 9229

FTI Consulting

Jonathon Brill

Alex Beagley

Georgia Mann
T. 0207 831 3113





This information is provided by RNS
The company news service from the London Stock Exchange

SPD SPORTS DIRECT

New 52 week breakout and 5
year high.

Highly interesting Daily Mail take on events and on the analysts visit today

http://www.thisismoney.co.uk/money/markets/article-2212016/MARKET-REPORT-Sports-Direct-going-gold.html?ito=feeds-newsxml

March towards FTSE 100.

MARKET REPORT: Sports Direct is going for gold

By Geoff Foster
PUBLISHED: 23:12, 2 October 2012 | UPDATED: 23:12, 2 October 2012
Comments (0) Share

..From zero to hero. Mike Ashley, the bolshy billionaire and entrepreneurial boss of Sports Direct International, is on a roll.

Shares of his retailer marched a further 9.5p forward to a 52-week peak of 355p ahead of an investor and analysts’ site visit to its head office in Shirebrook, Derbyshire, where its UK distribution centre is located.

It is the first time since 2007 that number-crunchers have been invited to have a nose around and it is expected that profit upgrades should follow.


Sports Direct shares hit a 52-week peak of 355p
With a market capitalisation now of £2.12bn, Sports Direct is knocking on the Footsie’s door.

Should the share price increase much further in the short term, having already surged more than 55 per cent over the past 12 months, there is every chance that Ashley could find himself mixing it with the big boys of retail, Marks & Spencer and Next, before Christmas.
What a turn up for the books. Ashley’s star in the City has soared since the dark old days of October 2008 when the shares plummeted to 33p in the wake of Lehman’s demise.

After floating at £3 in 2007 and having trousered around £900m in the process, Ashley’s name in the City was mud.

But Sports Direct has slowly shed its image of a pile-it-high and sell-it-cheap retailer thanks to the introduction of premium brands.
It has grown market share and been instrumental in the demise of its major competitor, JJB Sports.

Ashley confirmed on Monday that he has paid £23.8m in cash for 20 JJB Sports stores, including all of the stock, the JJB Sports name and website, as well as its Slazenger Golf brand licences and the JJB distribution centre and head office in Wigan.



Read more: http://www.thisismoney.co.uk/money/markets/article-2212016/MARKET-REPORT-Sports-Direct-going-gold.html#ixzz28EB1XK1c

Should the share price increase much further in the short term, having already surged more than 55 per cent over the past 12 months, there is every chance that Ashley could find himself mixing it with the big boys of retail, Marks & Spencer and Next, before Christmas.

SPD SPORTS DIRECT

Stonker Comment from retails
top analyst NICK BUBB on SPD.......

http://www.retail-week.com/comment/nick-bubbs-verdict-sports-direct-ashley-5-the-oft-0/5041318.article?blocktitle=Retail-Comment-&-Opinion&contentID=5972

Moved back into the blue.

Was expecting the Shares Mag
and Investors chronicle to
do a commentary on this weeks
action.

Anyone?.

Quality management that again are showing that they have wasted no time in getting down to the business of moving on stock. 24th October might just show some added retail sales and profit. The Londonderry branch comments amused.


http://www.bbc.co.uk/news/business-19797170

Moving up very strongly.

Heading for FTSE 100 admission.

Their funds will have to purchase.

Way undervalued stock.

Think this one might be tipped
by one or more of the Tip Sheets
that go to print in the first
week of each month.

That should sustain the present rise
going forward into the next month.

Still very cheap.

http://www.ukcitymedia.co.uk/news/fullstory.php?

Weekend share tips : Sports Direct, Assura, Ocado, Booker, IQE
04/10/2012 by ukcitymedia.co.uk about : Newspaper Share Tips - 0 Comments - 233 words



The Investors Chronicle Tips of the Week said buy Assura, reasonably cheap for a safe haven stock says IC, in the healthcare market.

Genel Energy has a hefty 31% discount to NAV says IC, should close with the resolution of the production-sharing contracts dispute between Kurdish and Iraqi authorities.

Buy MJ Gleeson as recent restructuring is largely complete and the shares are due a re-rating and buy Aureus Mining for its New Liberty gold project in Liberia.

A feature on mining prospects rates Anglo Asian Mining a 'strong buy', while Polo Resources offers 'substantial potential upside' while a substantial rights issue looks inevitable for troubled miner Lonmin at 565p.

In Updates hold Anpario, Asian Citrus and Xcite Energy.

Keep buying Booker, tipped in 5 July 2012 but keep selling Ocado, recommended as a sell in June 2012 at 106p, now 66p.

In News Tips keep buying Syngenta following recent acquisitions and keep buying William Hill given its 'excellent trading performance' and keep buying API for its bid appeal.

Asian Plantations remains a long term buy on an expected recovery in palm oil prices.

Keep buying Sports Direct as the collapse of JJB Sports will increase its market dominance.

Results Tips had buys for IQE, M&C Saatchi, Ricardo, Moss Bros, Hasgrove, Optimal Payments, Globo, EKF Diagnostics, Hargreaves Services, Close Brothers, Netcall, Regeneris and Scisys.

Looks like the sell-side analysts visit yesterday has worked its first conversion and its a big one

Seymour Pierce and Freddie George who were the most bearish on Sports Direct after the superb numbers on 5th September with a previous 285p price target have now upgraded by about 50% to a BUY recommendation with a 420p price target. That analysts circular would be well worth a read. Looks like their clients have started to pile in. Lets see what the other analysts now think.


http://www.digitallook.com/broker_ratings.cgi?&username=&ac=

04-Oct-12 Sports Direct International SPD Seymour Pierce Buy 384.70p 285.00p 420.00p Upgrade

SPD SPORTS DIRECT

EXCELENT

After Broker visit 2 BIG upgrades....

Sports Direct International Broker Views
Date Broker Recommendation Price Old target price New target price Notes

05 Oct Oriel Securities Buy 382.75 350.00 425.00 Reiterates
05 Oct Seymour Pierce Buy 382.75 285.00 420.00 Reiterates


425p and 420p SP Target.

Looks like whan this was last tabulated last week (it is done weekly) that Sports Direct were sat at 119 in rank order of the UK leading companies by market capitalisation (shareprice x shares in issue) and literally just knocking at the door of the Footsie 100 then.

Shareprice has been gaining momentum since then with the JJB acquisitions and Seymout Pierce now onboard is a major plus. Hopefully this is the first of a few upgrates and a rerating.

This weeks gains should have seen our market capitalisation increase and should push us even higher up the rank order and now firmly knocking at the door of the coveted Footsie 100. Next meeting of the Footsie review panel is 12th December and if the momentum continues then it is hard to argue against admission. Then the Footsie tracker funds will be looking to buy in.

A couple of links for you to enjoy and digest.


http://www.stockchallenge.co.uk/ftse.php


http://www.ftse.com/Media_Centre/press_packs/uk_review.jsp

SPD SPORTS DIRECT

Still cheap... forward P/E
of just over 16 going into
2014


Sports Direct International PLC

FORECASTS 2013 2014
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Seymour Pierce
04-10-12 BUY 195.00 22.00
Panmure Gordon
02-10-12 BUY 185.00 20.80 8.30 192.00 21.60 8.62
Singer Capital Markets Ltd
02-10-12 UREV
Westhouse Securities
27-09-12 BUY
Numis Securities Ltd
25-09-12 ADD 188.20 21.40 8.00 225.90 26.00 10.00

2013 2014
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Consensus 189.55 21.42 8.15 208.74 23.77 9.30
1 Month Change -15.67 -2.72 1.23 -6.69 -1.35 -1.10
3 Month Change -12.37 -2.10 0.37 2.52 0.25 -0.36


GROWTH
2012 (A) 2013 (E) 2014 (E)
Norm. EPS 13.31% 31.83% 11.01%
DPS % % 14.11%

INVESTMENT RATIOS
2012 (A) 2013 (E) 2014 (E)

EBITDA £218.98m £257.05m £281.36m
EBIT £157.48m £189.00m £227.00m
Dividend Yield 0.00% 2.13% 2.43%
Dividend Cover x 2.63x 2.56x
PER 23.56x 17.88x 16.10x
PEG 1.77f 0.56f 1.46f
Net Asset Value PS 39.39p p p

HEMSCOTT PREMIUM

05 Oct Sports Direct... SPD Oriel Securities Buy 382.95 382.80 350.00 425.00 Reiterates

SPD SPORTS DIRECT

Missed this corker yesterday look
at the target SP.......

15 Oct Sports Direct... SPD Goldman Sachs Conviction Buy 395.25 394.00 430.00 600.00 Upgrades

600p SP target.

SPD SPORTS DIRECT

look
at the target SP.......

15 Oct Sports Direct... SPD Goldman Sachs Conviction Buy 395.25 394.00 430.00 600.00 Upgrades

600p SP target.

SPD Sports Direct...

Next week Trading Statement........

OCT24Sports Direct International Plc Pre-Close Trading Statement
in 6 days

DEC13Interim 2012 Sports Direct International Plc Earnings Release
in 2 months

FEB21Sports Direct International PLC Interim Management Statement
in 4 months

Trading statement wednesday..

OCT24 Sports Direct International Plc Pre-Close Trading Statement
in 2 days

SPD SPORTS DIRECT

Absolutely BRILLIANT results...

http://www.investegate.co.uk/Article.aspx?id=201210240700053712P

Dave Forsey, Chief Executive of Sports Direct International plc, said:



"The Group has continued to deliver strong growth through the second quarter, especially within the UK Sports Retail division where sales and margins benefited from the London Olympics and an excellent 'back to school' period.



"Since the end of September trading has remained equally strong and the Board is therefore confident of reaching the full year targeted "super stretch" underlying EBITDA of £270m (before the charge for the bonus share schemes)."



The Company will announce its Interim Results for the 26 weeks ending 28 October 2012 on Thursday 13 December 2012.

BRIEF-Sports Direct sales up 18 pct, sees strong trading24 Oct 2012 - 07:07

LONDON, Oct 24 (Reuters) - Sports Direct International PLC : * Group total sales for nine weeks ending 30 September were up 18.0% to £402.7M (2012: £341.3M) * Gross profit was up 21.7% to £167.4M (2012: £137.6M). * Since the end of September trading has remained equally strong * Board is confident of full year targeted "super stretch" underlying EBITDA of £270M ((London Equities Newsroom; +44 20 7542 7717)) ((For more news, please click here [SPD.L]))

UPDATE 1-Sports Direct cashes in on Olympic fever 24 Oct 2012 - 07:38

* Sales for 9 weeks to Sept 30 up 18 pct to 402.7 mln stg * Gross profit up 21.7 pct to 167.4 mln stg * Says trading since Sept has remained strong * Board confident of FY earnings target (Adds details) LONDON, Oct 24 (Reuters) - Britain's biggest sporting goods retailer Sports Direct reported an 18 percent rise in recent sales as customers caught London Olympics fever and kitted out children for a return to school. The group, which owns Sports Direct.com and Lillywhites stores as well as brands such as Slazenger, Lonsdale and Dunlop, said on Wednesday group total sales in the nine weeks to September 30 had risen to 402.7 million pounds ($642 million), up from 341.3 million pounds a year ago. Gross profit in the period rose 21.7 percent to 167.4 million pounds, with the firm adding that trading since September had remained strong. Sports retail sales grew 16.8 percent to 344.7 million. Retailers across Britain are generally struggling as consumers' disposable incomes are squeezed by rising prices, muted wages growth and government austerity measures. Sports Direct has, however, coped well, benefiting from the woes of its rivals, its value offer, a growing internet presence, highly motivated staff due to a lucrative bonus scheme and European expansion. In October the firm bought 20 stores and nearly all the stock of rival JJB Sports after it fell into administration and closed the bulk of its stores, axing 2,200 jobs in the process. The group is targeting for 2012-13 underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of 270 million pounds, before a charge for bonus share schemes. Shares in the firm, controlled by billionaire Newcastle United soccer club owner Mike Ashley, closed at 404 pence on Tuesday, up 74 percent on a year ago, valuing the business at around 2.5 billion pounds. ($1 = 0.6274 British pounds) (Reporting by Neil Maidment; editing by Kate Holton) ((neil.maidment@thomsonreuters.com)(+44)(0)(207 542 2292)(Reuters Messaging: neil.maidment.thomsonreuters.com@reuters.net)) Keywords: SPORTSDIRECT/

SPD

http://www.proactiveinvestors.co.uk/companies/market_reports/49504/company-snapshot-including-home-retail-sports-direct-national-express-sound-oil-fastnet-oil-gas-mariana-resources-0000.html

24 Oct Sports Direct... SPD Seymour Pierce Buy 401.65 404.00 420.00 420.00 Retains

24 Oct Sports Direct... SPD Oriel Securities Buy 399.75 404.00 - 480.00 Reiterates

480p SP target.

SPD Sports Direct.


Broker note out this morning

26 Oct Sports Direct... SPD Citigroup Buy 0.00 406.00 380.00 470.00 Retains

470p SP target.

Sports Direct International (LON:SPD)

Yesterday, Sports Direct International issued a pre-close trading update prior to its half year end on 28th October 2012. During the nine week period ending 30th September 2012, total group sales climbed 18% y-o-y to £402.7m and gross profit increased 21.7% y-o-y to £167.4m. Top line growth was driven by increased sales from Premium Lifestyle division (up 43% y-o-y) and Brands division (+18.9% y-o-y). Revenues at Sports Retail division grew 16.8% over the previous year. Gross profit of Sports Retail division was up 20.5% y-o-y to £142.8m; while that for Premium Lifestyle and Brands division grew by 18.8% and 33.9% to £7.6m and £17.0m, respectively. The Brands division included sales from Firetrap wholesale division. The Board was confident of meeting the full year target EBITDA of £270m, before all bonus share schemes.

Our view: Sports Direct International delivered robust performance in the second quarter, backed by the UK Retail sales division where demand was majorly driven by the London Olympics and “back to school” period. The group continue to invest in newer geographies along with the developments carried out at existing locations. For FY 2013, the company aims to add 10 to 15 new stores and enter three to five new territories. In line with the above, eight new stores in Hungary, Belgium, Slovenia and France have already been opened in Q1 2013 further strengthening its position in Europe. Given its solid multichannel offerings, and highly competitive pricing coupled with long-term expansion plans, we maintain our buy rating for this company.


http://www.proactiveinvestors.co.uk/columns/hb-markets/11021/hb-markets-breakfast-today-including-rathbone-brothers-reckitt-benckiser-and-sports-direct-11021.html

SPD Sports Direct

Review of Brokers SP Targets....

Looks very Bullish.

Date Company Name Broker Rec. Price Old target price New target price Notes

06 Nov Sports Direct... Seymour Pierce Buy 396.65 420.00 Retains
26 Oct Sports Direct... Oriel Securities Buy 396.65 480.00 480.00 Reiterates
26 Oct Sports Direct... Citigroup Buy 396.65 380.00 470.00 Retains
25 Oct Sports Direct... HB Markets Buy 396.65 - - Reiterates
24 Oct Sports Direct... Panmure Gordon Buy 396.65 350.00 450.00 Retains

NORWICH & PETERBOROUGH BUILDING SOCIETY

Chance to top up here.

Results Dec 13th.

23 Nov Sports Direct... SPD Seymour Pierce Buy 0.00 399.70 - - Retains

SPD SPORTS DIRECT

Up to date concensous broker BUY figures.

My local SPD says its busier than its
ever been?.........

not borne out in the SP here at the moment.

results early december.

Date Company Name Broker Rec. Price Old target price New target price Notes

23 Nov Sports Direct... Seymour Pierce Buy 376.45 - - Retains
26 Oct Sports Direct... Oriel Securities Buy 376.45 480.00 480.00 Reiterates
26 Oct Sports Direct... Citigroup Buy 376.45 380.00 470.00 Retains
24 Oct Sports Direct... Panmure Gordon Buy 376.45 350.00 450.00 Retains
15 Oct Sports Direct... Goldman Sachs Conviction Buy 376.45 430.00 600.00 Upgrades


NORWICH & PETERBOROUGH BUILDING SOCIETY

Goldman sachs with a 600p SP target.

Added earlier.

Flag on chart.

Some interesting recent articles that seem to have been missed.

His Sports Direct empire got massive publicity and coverage when he did this at Newcastle Utd FC and with St James park. Then he did a commercial deal with Wonga.com to change it back plus get them onboard with sponsorship and a big paycheque. Got even more free publicity into the bargain. Can lightning strike twice for Mr Ashley.

http://www.scotsman.com/sport/football/sfl-division-three/mike-ashley-seeks-naming-rights-to-ibrox-1-2666287

AND

Another prime article that appears to have missed this bulletin board.

Looks like Mr Ashley and the Sports Direct Board are intent on pushing forward with moving upmarket with negotiations according to the Telegraph apparently ongoing with House of Fraser.

Probably a good and less expensive route to market for concessions in the stores and a quick expansion route for the premium lifestyle division of Sports Direct - namely Cruise, Van Mildert and Flannels and it would position their offerings at the higher value niche end of the market. Looks like House of Fraser have some 60 Department stores. Mentions potentially news in a couple of weeks which may roughly coincide with the next trading statement which is due on the 13th December.

http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/9702069/Ashley-eyes-House-of-Fraser-stake.html

http://en.wikipedia.org/wiki/House_of_Fraser

SPD SPORTS DIRECT....

Note just out.

06 Dec Sports Direct... SPD Citigroup Buy 391.35 389.60 470.00 470.00 Retains

SP TARGET 470p.

Soccer club Rangers aims for $44 mln in share sale05 Dec 2012 - 17:58

By Keith Weir LONDON, Dec 5 (Reuters) - Scottish soccer club Rangers is aiming to raise up to 27 million pounds ($44 million) when it returns to the stock market this month, the club said on Wednesday. The funds would help to support the recovery of Rangers, who have been Scottish champions a record 54 times. They are now playing in the lowly fourth tier of the Scottish game after their former parent company collapsed earlier this year. Rangers disclosed that Mike Ashley, who owns English Premier League soccer club Newcastle United and controls retail chain Sports Direct , has a stake of almost 9 percent in the club as part of its new ownership team. Ashley's stake will be diluted to 5.2 percent after the listing on the London Stock Exchange's junior AIM market where trading is expected to begin on Dec. 19. Chief Executive Charles Green will remain the largest shareholder with 8.67 percent. The club said it anticipated a market capitalisation of around 50 million pounds upon flotation. The details were given in a document filed as part of the process leading up to the market launch. Rangers was previously listed on the PLUS Stock Exchange but the shares were suspended in January. The company went into administration in February and was subsequently liquidated. Rangers now tops the Scottish third division but it will take the club at least three years to return to the Scottish Premier League and resume its rivalry with fellow Glasgow club Celtic. A number of British soccer clubs joined the stock market in the 1990s but investors were wary of putting money into teams whose fortunes were tied to sporting success and many have since delisted. Manchester United , English champions a record 19 times, returned to the stock market when it listed in New York in August, valuing the club at $2.3 billion at the time. Priced at $14, the shares now trade at $13.12. ($1=0.6209 British pounds) (Editing by Greg Mahlich) ((keith.weir@thomsonreuters.com)(020 7542 8022)(Reuters Messaging: keith.weir.reuters.com@reuters.net)) Keywords: SOCCER RANGERS/

SPD Sports Direct.


Chart and TA postion here at SPD
looking very bullish leading up to
next weeks results.

Could do with a bit more volume
but expect to get that as we home
in on results day.

SPD SPORTS DIRECT

07 Dec Sports Direct... SPD Oriel Securities Buy 398.40 397.00 480.00 480.00 Reiterates

SP TARGET 480p.

SPD SPORTS DIRECT

WOW THIS IS A BIGGY. YOU SAW
IT HERE FIRST.

07 Dec Sports Direct... SPD Goldman Sachs Conviction Buy 395.65 397.00 600.00 600.00 Retains

CONVICTION BUY 600p SP TARGET.

SP getting hot now after that G Sachs 600p sp target which represents a 50% upgrade.

http://www.scotsman.com/news/golden-olympics-helps-sports-direct-1-2683085

ZAK MIRS take.......

http://www.tradersown.co.uk/magazine/read/sports-direct-international-spd-new-leg-higher_1103.html

IC Week Ahead Comment

Afters snapping-up 20 JJB Sports stores following that struggling retailer's slide into administration, Sports Direct (SPD) should have good news to report with its half-year figures on 13 December. Not only has JJB's demise removed a rival, but it has also allowed Sports Direct to grab market share. The Olympics has delivered a boost, too, with management having reported in October that that the group had continued to deliver strong growth throughout the second quarter, especially within its UK sports retail division. In fact, the group's total sales for the nine weeks ending 30 September rose by an impressive 18 per cent, with premium lifestyle range sales having jumped by 43 per cent. Broker Oriel Securities expects full-year adjusted EPS of 24.1p (2012: 16.8p).

SPD Sports Direct.


Chart breakout has occured today.....

Brilliant results BEAT EXPECTATIONS.....

13th December 2012

Sports Direct International plc

("Sports Direct", "the Group" or "the Company")



Interim Results

For the 26 weeks to 28 October 2012







2013 H1
2012 H1





£m
£m



Group revenue
1,088.9
888.6
+22.5%

UK Sports Retail(1)
796.9
674.7
+18.1%

International Retail
90.6
81.3
+11.4%

Premium Lifestyle
56.1
22.4
+150.4%

Brands
106.9
92.4
+15.7%

Group gross margin
41.2%
41.5%
-30 bps

UK Sports Retail
42.3%
42.2%
+10 bps

Underlying EBITDA (pre share schemes costs)(2)
163.2
139.2
+17.2%

Underlying profit before tax (PBT) (2) (3)
125.1
99.0
+26.4%

Reported profit before tax
125.2
100.3
+24.8%

Underlying earnings per share(2) (3)
16.05p
12.38p
+29.6%

Reported earnings per share
16.07p
12.54p
+28.1%






Key highlights

· Group Revenue up 22.5% to £1,088.9m with significant growth across all divisions

· Sports online sales growth of 54% - now representing 12.5% of total Sports Retail sales (2012 H1: 9.5%)

· Group Underlying EBITDA up 17.2% to £163.2m (2012 H1: £139.2m)

· Underlying free cash generation of £143m

· Opened in four new European countries

· Acquisition of the Flannels Group for the Premium Lifestyle division

· Invested in inventory and acquisitions while maintaining a strong balance sheet

· Phase 2 of the Shirebrook expansion now fully operational

http://www.investegate.co.uk/sports-direct-intl.-(spd)/rns/interim-results/201212130700104193T/

UPDATE 1-Sports Direct profit lifted by sporting summer13 Dec 2012 - 07:28

* Group underlying EBITDA up 17.2 pct to 163.2 mln stg * Says confident of reaching year underlying EBITDA target * Increases EBITDA targets for 2014 and 2015 (Adds details) LONDON, Dec 13 (Reuters) - Britain's biggest sporting goods retailer Sports Direct said a successful London Olympics helped boost its first-half profit by 17 percent, giving it confidence to increase its profit targets for 2014 and 2015. The group, which owns Sports Direct.com and Lillywhites stores as well as brands like Slazenger, said underlying earnings before interest, tax, depreciation and amortisation (EBITDA) and before the costs of an employee bonus share scheme were 163 million pounds ($263 million) in the 26 weeks to Oct. 28. That compared with 139.2 million posted in the same period a year ago. The group is targeting for 2012-13 underlying EBITDA of 270 million pounds, before a charge for bonus share schemes. First-half revenue rose 22.5 percent to just over 1 billion pounds, with sales helped by a sporting summer that included the European soccer championship and a strong showing from Britain at the Olympic Games. The group said that based on its strong performance it would increase its underlying EBITDA targets for the next two financial years from 290 million pounds to 310 million in 2014, and from 340 million pounds to 360 million in 2015. While many UK retailers have struggled as consumers grapple with rising prices and muted wage growth, heavy discounter Sports Direct has coped well, benefiting from the woes of its rivals, a growing internet presence, highly motivated staff due to a lucrative bonus scheme and European expansion. In October the firm bought 20 stores and nearly all the stock of rival JJB Sports after it fell into administration and closed the bulk of its stores. [ID:nL6E8L1MRF] Shares in Sports Direct, controlled by Newcastle United soccer club owner Mike Ashley, closed at 409.3 pence on Wednesday - double that of a year ago - valuing the business at almost 2.5 billion pounds. ($1 = 0.6205 British pounds) (Reporting by Neil Maidment; editing by Keith Weir) ((neil.maidment@thomsonreuters.com)(+44)(0)(207 542 2292)(Reuters Messaging: neil.maidment.thomsonreuters.com@reuters.net)) Keywords: SPORTSDIRECT/

The group said that based on its strong performance it would increase its underlying EBITDA targets for the next two financial years from 290 million pounds to 310 million in 2014, and from 340 million pounds to 360 million in 2015. While many UK retailers have struggled as consumers grapple with rising prices and muted wage growth, heavy discounter Sports Direct has coped well, benefiting from the woes of its rivals, a growing internet presence, highly motivated staff due to a lucrative bonus scheme and European expansion

RESEARCH ALERT-Sports Direct: Seymour Pierce raises target price13 Dec 2012 - 08:21

Dec 13 (Reuters) - Sports Direct International PLC : * Seymour Pierce raises target price to 440p from 420p; rating buy For a summary of rating actions and price target changes on European companies: Reuters Eikon users, click on [RCH/EUROPE] Reuters 3000Xtra users, double-click [RCH/EUROPE] Reuters Station users, click .1580 ((Bangalore Newsroom +91 80 4135 5800; within U.S. +1 646 223 8780))

SPD Sports Direct

13 Dec Sports Direct... SPD Oriel Securities Buy 405.20 409.30 480.00 480.00 Reiterates

SP TARGET 480p.

Web sales underpin strong results for Sports Direct International
Date: Thursday 13 Dec 2012


Internet sales played an increasing role in driving up revenue at sports clothing retailer Sports Direct International over the six months to October 28th.

In the group’s interim results published on Thursday, group revenue rose 22.5% to £1,088.9m with significant growth across all divisions.

Sports online sales rose 54% and now represent 12.5% of total sports retail sales compared to 9.5% in the first half of 2012.

Group underlying earnings before interest, tax, depreciation and amortisation (EBITDA) rose 17.2% to £163.2m, up from £139.2m in the first half of 2012.

In addition to opening outlets in four new European countries, the group also acquired the Flannels Group for its Premium Lifestyle division.

Dave Forsey, Chief Executive Officer of Sports Direct International, commented: “The first half has been another record period for Sports Direct with the London 2012 Olympics and Paralympics playing a significant part in the Group's strong results. There is no doubt that Team GB's outstanding performance has helped increase the awareness and popularity of sport across the UK, and that we have maintained our position as the consumers' champion.

"The group continues to deliver growth across its divisions and we have maintained our investment in margin, inventory and extra group marketing, while also investing for future growth, particularly in our International and e-Commerce divisions.

"As stated in October, the board remains confident of reaching our full year targeted underlying EBITDA of £270m before the charge for the Bonus Share Schemes."

MF

http://www.digitallook.com/news/20564131/Web_sales_underpin_strong_results_for_Sports_Direct_International.html?&username=&ac=

Broker Oriel Securities says BUY Sports Direct International (SPD LN) with a 480p price target. Says interims reflect a strong H1 and show that reinvestment remains and ongoing policy. More cost is being put into distribution and stores. which augurs well for future growth. Such is management's confidence that it has upgraded 2013-15 EBITDA targets again.

Gone long on SPD Sports Direct, Interims on 21st of February, chart broke out yesterday still cheap and should get a ride up to results.

Broker BUY ratings......

Date Company Name Broker Rec. Price Old target price New target price Notes

05 Feb 13 Sports Direct... Seymour Pierce Buy 428.70 440.00 - - Retains
04 Feb 13 Sports Direct... Oriel Securities Buy 428.70 480.00 480.00 Reiterates
04 Jan 13 Sports Direct... Seymour Pierce Buy 428.70 - - Retains
18 Dec 12 Sports Direct... Goldman Sachs Conviction Buy 428.70 600.00 570.00 Reiterates
14 Dec 12 Sports Direct... HB Markets Buy 428.70 - - Reiterates
13 Dec 12 Sports Direct... Panmure Gordon Buy 428.70 450.00 450.00 Retains

N@P B Society.

08 Feb Sports Direct... SPD Seymour Pierce Buy 433.60 432.80 - - Retains

RNS sp down 6% following MASH share sale.

Sports Direct rethinks founder's payout, pays staff bumper bonus

LONDON | Thu Jul 18, 2013 11:53am BST
(Reuters) - Sports Direct (SPD.L), Britain's biggest sporting goods retailer, scrapped plans to pay its billionaire founder Mike Ashley a bonus worth some 60 million pounds on Thursday, saying it would look for other ways to reward him for its rapid growth.

Ashley, who founded the company in 1982, has not taken a salary since Sports Direct floated in 2007, during which time its share price has doubled. He has also provided significant free advertising for it through his ownership of English Premier League football club Newcastle United.

Espirito Santo Execution Noble Buy 628.00 500.00 685.00 Reiterates

N+1 Singer Hold 628.00 475.00 475.00 Reiterates

SportsDirect to Join FTSE
http://valueshare.co.uk/current-portfolio/sportsdirect/sports-direct-international-set-join-ftse-big-league/284/

The chart looks close to 'make your mind up time'.

SPD Sports Direct bouncing off a support line at 650p. target SP 750p or just above.

SPD Sports Direct..... looks to be recovering just at the right time for christmas. id give it another day for confirmation of breakout if your interested although it is moving up nicely today........

Potential expansion alert! http://www.moneyam.com/action/news/showArticle?id=5127964

Sports Direct Int'l sees H1 reported pretax profit fall

StockMarketWire.com

Sports Direct International has booked a 25.1% tumble in reported H1 pretax profit to �140.2m, from �187.3m, after a tough first six months of its financial year.

Group revenue was up 14.2% to �1.64bn, from �1.43bn. Group gross margin fell 450 basis points to 40.4%, from 44.9%, due to the devaluation of sterling after UK's non-binding Brexit vote in June.

"The last six months have been tough for our people and performance," said CEO Mike Ashley in a statement.

"Our UK Sports Retail business continues to be the engine of Sports Direct, but our results have been affected by the significant deterioration in exchange rates, and our assessment of our risk relating to our stock levels and European stores performance.

"We continue to elevate our sports retail proposition for our key third party brand partners and customers, as we progress towards our medium to long term goal of becoming the "Selfridges" of sports retail.

"We are changing our retail channels for customers in the UK, and we will be changing our approach to our customers in Europe, which will take time.

"What matters most to me is how tough the last year has been for the people who work at Sports Direct. Our people have once again found themselves in the spotlight through no fault of their own, yet they remain hardworking and loyal.

"It is for this reason that my immediate priority will be to protect the people at Sports Direct. Part of this includes the Company's commitment to underwrite the value of the share awards relating to the 2011 Share Scheme, that are vesting in September 2017, to reduce the impact of recent volatility on the financial outcomes for our people."

Separately, Sports Direct said it had appointed David Brayshaw as a non-executive director with immediate effect.

Findings of the Financial Reporting Review Panel in respect of the accounts of Sports Direct International plc for the year ended 26 April 2015
8 December 2016
The Financial Reporting Council (FRC) today announces the following matters in relation to the annual report and accounts of Sports Direct International plc (the company) for the year ended 26 April 2015.

The FRC has discussed certain issues with the company following its review of the 2015 annual report and accounts.

The principal issue arising related to whether the 2015 strategic report complied with the Companies Act 2006 requirement to be balanced and comprehensive. In this regard the FRC noted that

· there was no discussion of the development and performance of the company's international stores in its Sports Retail division, which represent a significant part of the company's operations in terms of the number of stores, total revenue, operating result and gross profit;

· one of the company's key performance indicators, Sports Retail like-for-like stores gross contribution, excludes stores that have not been owned by the company for the full 12 months in both periods. Therefore, in 2015 this key performance indicator excluded the contribution from the stores in Austria and the Baltic states acquired in 2014; and

· there was no discussion of the performance of these stores or their effect on the company's results.

The FRC noted the continuing lack of discussion about Sports Retail's international stores in the 2016 strategic report even though the key performance indicator of Sports Retail like-for-like stores gross contribution did include the stores in Austria and the Baltic states and this measure had decreased to (0.8%) from 7.4%.

On the basis of information provided by the company, the FRC also considered whether the aggregation of the UK and international Sports Retail stores was in accordance with IFRS 8 'Operating Segments'.

Following discussion with the FRC the directors have decided to include specific commentary about Sports Retail's international stores in its narrative reporting, including the strategic report, and to present separately segmental information about these stores in the accounts. This has resulted in the additional information in the commentary provided in the company's 2016 interim results, announced today, and the restatement of comparative amounts in the segmental disclosures. These changes will also be reflected in the company's 2017 annual report and accounts that it expects to publish in August 2017.

Following the corrective action taken by the company, the FRC regards the enquiries arising from its review of the company's annual report and accounts for the year ended 26 April 2015, initiated on 26 February 2016, as concluded.

The Guardian.

Mike Ashley, the controversial billionaire founder of Sports Direct International Plc, allegedly secretly paid his former chief executive 1 million pounds-a-year out of his personal funds in order to keep down the pay of other staff.

Bit of a turnaround here against all odds.

Looking at these in the morning..

In 3.57p

I t looks good here driver.

mitzy

Yes got in a bit late but still happy to hold 4p plus looks achievable short term..

Sports Direct boss Ashley wins £15m court case

Rising today so not so bad as some suggest.

Happy Days.

Smashing chart here.

Sports Direct chart breakout could spell big upside

By Lee Wild | Thu, 10th August 2017 - 13:18
Share this
Seven weeks ago, high street budget sports chain Sports Direct (SPD) published horrible-looking full-year results. Revenue was up, but margins had crumbled and underlying profit had crashed by 59%. But the share price is up over a third since, and technical analysis suggests there could be further upside to come.

Sports Direct had become a pariah stock following all the furore around zero-hours contracts, profit warnings, departing executives and boozy board meetings.

Admittedly, the selling looked to be over given the shares had traded sideways for a year, but few anticipated what has happened since July.

Closing at 300p prior to results day, the share price is now above 400p for the first time since April 2016. Clearly, investors were happy to ignore deteriorating margins, a truckload of provisions and sterling's post-referendum crash, which crushed profits

More interesting was the hiring of turnaround specialist Jon Kempster as finance director, and owner Mike Ashley's insistence that trading in the firm's new generation flagship stores is "exceeding our expectations". Traders also liked his confidence in growing underlying cash profit by 5-15% in the year to April 2018.

In terms of the charts, this sharp move higher is significant.



Having already broken above two potential resistance levels, Sports Direct shares have blasted above a third, more important number. Closing higher than 412p puts the shares above a major level whose origins can be traced back to 2012/13 (see above).

From here, there's a possible hurdle at around 442p, but bulls will point to levels around 513p and 572p where the share price fell dramatically following a damaging profits warning. That followed a prior crash after an investigation uncovered "Victorian" working conditions at its warehouse in Shirebrook, Derbyshire.



These so-called manipulation gaps often get filled over time. Achieve that here and investors could generate big profits.

However, billionaire Mike Ashley may be an accomplished businessman, but he is unpredictable, too. He also warns about "short-term fluctuations in underlying EBITDA, particularly given the continued uncertainty surrounding Brexit".

While the charts look interesting, this is one for the bold. Dropping much below 410-412p may start alarm bells ringing. Bears would sell this one and set a tight stop loss, pointing out that the shares are heavily overbought here. One to watch.

All the City folk missed this one.

If it can break 400p and hold, initial target 440p. Support 380p.

420p initial resistance if can stay above 410p today. Unloved stock, needs more volume doing okay since promising results though considering high street woes.

Possible interest rise in next few months may spook this and cause further falls in high street stocks. Great! ;0(

Bounce back to 410p fingers crossed holds to the close.

If you play Football then this is the place to go and get Adidas Toblerones.

Looking for entry around 380p

Bounced @ 380p Claret, game on? 14th December half year results.

Half year results - 14/12/17

Despite claims by chief executive Mike Ashley that Sports Direct's elevation strategy is delivering a "spectacular trading performance", shares in the retailer slumped on Thursday as investors reacted to a 67% drop in pre-tax profit.

In the 26 weeks to 29 October, reported pre-tax profit fell to £45.8m from £140.2m in the same period a year ago, while revenue edged up 4.7% to £1.7bn. Excluding acquisitions, disposals and on a currency neutral basis, revenue increased by 1.2%.
However, UK sports retail revenue was down 1% to £1.1bn due to reduced online promotional activity and store closures as part of the continued elevation of the portfolio.
On an underlying basis, pre-tax profit was up 23% to £88m, while underlying earnings before interest, taxes, depreciation and amortisation were up 7.4% to £156.1m. Meanwhile, group gross margin in the period was down by 180 basis points, with margin in UK sports retail down 80 basis points.
Chief executive Mike Ashley said: "Our high street elevation strategy is currently delivering spectacular trading performance within our flagship stores. We intend to open between 10 and 20 new flagship stores next year.
"Whilst our reported profit before tax has been impacted by fair value adjustments and transitional factors such as the disposal of assets in FY17; our underlying profit before tax remains healthy. We will continue to invest for the long-term and our net debt has increased in line with management expectations."
The group said it continues to anticipate that growth in underlying EBITDA during FY18 will be within its forecast range of 5% to 15%.
Nicholas Hyett, equity analyst at Hargreaves Lansdown, said: “Sports Direct’s corporate governance practices continue to attract headlines for all the wrong reasons, with independent shareholders rejecting an £11m payment to Mike Ashley’s brother on Wednesday.
"Unfortunately the lack of transparency also stretches to the 'Selfridges of Sport' initiative. Mike Ashley has described trading at the new format stores as 'spectacular', but it’s difficult to see evidence of that in the numbers. Improved profits are being driven by cost cuts rather than sales growth - which is actually negative in the UK.
"The tail of strategic stakes and small regional operations continues to grow. At a time when the company is undertaking a major revamp of its core UK operations it’s difficult to imagine that this isn’t a distraction for management.”

Acquisition of House of Fraser
Sports Direct International plc ("the Company" or "the Group") announces the acquisition of the business and assets of House of Fraser from the administrators of House of Fraser Limited, House of Fraser (Stores) Limited and James Beattie Limited, the House of Fraser group's main operating companies (the "Operating Companies"), for a cash consideration of £90 million (the "Transaction").

Pursuant to the Transaction, the Group has acquired all of the UK stores of House of Fraser, the House of Fraser brand and all of the stock in the business.

Interims https://www.moneyam.com/action/news/showArticle?id=6243420