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Sports Direct - Acquires 114 Republic stores from administrator

April 2013

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • SPD
  • Price:
  • 434p
Not even the disposal by Sports Direct founder, Mike Ashley, of 25m shares at 400p (he retains a 64.4% interest) could derail the upward momentum in the shares. Indeed news flow remains positive with the company, fresh from acquiring 20 of the best stores from stricken rival, JJB, now announcing the purchase of certain assets from the administrator of fashion retailer, Republic. These include 114 stores, substantially all the stock in the business as well as its website and own brands. Earlier, Sports Direct announced strong trading for the 13 weeks to 27 January with group sales up 21% to £590m and gross profit increasing almost 23% to £244.8m. Latest forecasts from Citi have inched ahead 2% to 27.1p for the year to end ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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