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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Sports Direct International    FRAS   GB00B1QH8P22

SPORTS DIRECT INTERNATIONAL

(FRAS)
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Delayed Quote. Delayed London Stock Exchange - 05/22 11:35:27 am
266 GBX   +1.06%
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Sports Direct International : prepared to exit House of Fraser

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10/07/2019 | 01:13am EDT

THE FUTURE of House of Fraser looks uncertain again as new documents have revealed Sports Direct is poised to exit its involvement with the beleaguered department store.

Seven properties have been vacated and keys have been returned to landlords after Sports Direct bought the high street chain out of administration for £90m, according to the latest filings by administrators EY.

The majority of the 59 stores have either been surrendered or are being treated as at an end to allow Sports Direct to enter into new agreements with the landlords, which would permit Ashley to make a quick exit, the Sunday Telegraph reported.

Sports Direct took control of 64 House of Fraser sites including 59 stores, three office buildings and two warehouses following the acquisition in August last year.

Ashley had vowed to transform the troubled department store into the "Harrods of the High Street". However, in Sports Direct's latest financial results, he branded issues at the store as "terminal".

The results, which were published in July after being delayed twice, revealed that House of Fraser had lost £54m in the year to April.

The company said: "There are still a number of stores which are currently paying zero rent and that are still unprofitable, and unfortunately this is not sustainable. We are continuing to review the longer-term portfolio and would expect the number of retained stores to reduce in the next 12 months."

(c) 2019 City A.M., source Newspaper

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Financials (GBP)
Sales 2020 3 888 M
EBIT 2020 214 M
Net income 2020 82,0 M
Debt 2020 363 M
Yield 2020 -
P/E ratio 2020 13,8x
P/E ratio 2021 21,1x
EV / Sales2020 0,44x
EV / Sales2021 0,46x
Capitalization 1 335 M
Chart SPORTS DIRECT INTERNATIONAL
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Technical analysis trends SPORTS DIRECT INTERNATIONA
Short TermMid-TermLong Term
TrendsBullishBullishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 4
Average target price 312,50 GBp
Last Close Price 266,00 GBp
Spread / Highest target 126%
Spread / Average Target 17,5%
Spread / Lowest Target -24,8%
EPS Revisions
Managers
NameTitle
Michael James Wallace Ashley Chief Executive Officer
David Daly Non-Executive Chairman
Chris Wootton Chief Financial Officer
David Brayshaw Non-Executive Director
Nicola Frampton Non-Executive Director
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