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Sports Direct declares record results



During the past fiscal year, British sports chain, Sports Direct, has seen turnover grow by 23.8%, to Ј2.706bn (Ђ3.4bn). 
Gross profit increased by 15.6% to Ј239.5m (Ђ303m).The results were achieved mainly by its British stores, the Baltic region, the Austrian purchases and record online sales, which increased by 26.8%. Their online sales now make up 17.1% of its total sales. The group recently faced conflict with Adidas, one of their main suppliers over supply of shirts. The conflict has been resolved.Another problem the group faced this past year was related to the approval of a personnel bonus package. The company wishes to allow management to have a portion of the profits if specific targets are met.
SportDirect.jpg

The new plan continues through to 2019, at a cost of Ј200m (Ђ253m). Mike Ashley, the chairman who owns about 60% of the group, has waived his portion of the bonus package.The profits will be used for potential purchases, hence shareholders will not receive dividends. The group is active in 191 countries, including France and Belgium, however it still places great reliance on the UK, where more than 400 of its 600 stores are located.


More about shopping malls in the United Kingdom



Jun 19, 2019, Italy:
The Mall Sanremo is a brand village featuring luxury labels, from ready-to-wear to accessories, and watches.
Jun 18, 2019, USA:
The retailer equipped new stores with technology improvements, new fixtures, and a brighter look and feel.
Jun 14, 2019, USA:
Skyports designed for vehicles of the Uber Air project, the world's first urban aviation network.
Jun 14, 2019, United Kingdom:
Nike has redesigned the women's part of its flagship shop in London, showing plus-size mannequins.
Jun 13, 2019, Slovenia:
Irish fashion retailer Primark revealed its first store in Slovenia at Citypark in Ljubljana, attracting thousands of enthusiastic customers.
Jun 11, 2019, USA:
Krispy Kreme is preparing to present its flagship retail concept in Times Square in New York.
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