Retail giant’s share price nears four-year high
Sports Direct’s share price has increased by 26.33 per cent to 454.8p* – a near four-year high and double the price of its shares in August.
The news comes after an announcement yesterday morning (16 December) revealed that the company’s overall Group profits and revenue have increased significantly due to the value added by recent acquisitions such as Game Digital.
It was a busy day for the Shirebrook-based retailer, whose proposed name change to Frasers Group was unanimously passed at a general meeting.
Although the Group appears to be going great guns, CEO Mike Ashley has acknowledged that the House of Fraser brand he acquired for £90 million 12 months ago is continuing to experience difficulties.
According to a report by the BBC, animal rights activists assembled outside the general meeting to protest against the return of animal fur products to the department store’s shelves, and in a statement, Ashley said he expected the number of retained House of Fraser stores “to continue to reduce in the next 12 months.”
*at 13.00 hours on 16 December
