Retail Week looks ahead to the next seven days, with an update from Halfords and Sports Direct’s AGM on the agenda.
Halfords
The cycling and motor specialist will report its trading for the 20 weeks to August 18 on Tuesday, September 5. It’s been an uphill climb for Halfords recently as sourcing costs rise and the market continues to be sluggish.
Given that current boss Jill McDonald is due to leave for her new role as managing director of clothing, home and beauty at Marks & Spencer, shareholders will be hoping for an announcement on her replacement.
Sports Direct
The sports giant hosts its AGM on Wednesday, September 6.
This time last year saw boss and majority shareholder Mike Ashley showing journalists around its Shirebrook warehouse after being hit by corporate governance and employee welfare scandals.
It’s been another eventful year for Ashley, peppered by acquisitions and court cases, but there is to be no tour this time.
Sports Direct seems to have finally addressed the welfare of its staff, but the continued chairmanship of Keith Hellawell does not have the support of many shareholders.
The thorny issue caused its biggest independent investor, Standard Life, to desert it at the beginning of this month, while another major institutional investor, Aviva, sold down its stake.
Investors and onlookers will be curious to see whether Ashely continues to stick his heels in over Hellawell – and to see the reaction from shareholders if he does.
No comments yet