skip to content

Market News

Sports Direct clarifies on Agent Provocateur

07 March 2017 07:30

Sports Direct International clarified that Agent Provocateur has been acquired by Four (Holdings) Ltd, a company in which it has a 25% stake, and warned the euro's slide against the dollar would impact gross margin.

This clarification followed recent press reports that had incorrectly stated that Sports Direct had acquired Agent Provocateur.

Further reports stated Sports Direct paid £35m two years ago for a stake in Four Marketing. In fact, the amount paid £8.75m.

"Separately in response to certain enquiries received by the Company in relation to currency, we continue to believe the devaluation of the Euro against the Dollar will impact on gross margin," Sports Direct said.

"Our Euro/Dollar exchange rate is currently hedged at 1.46, which is due to expire at the end of FY17 and we currently have no Euro/Dollar hedging in place for FY18."

Story provided by StockMarketWire.com

Related Company: SPD

Info Point:

To buy or sell shares call our Dealing Room on 0113 243 6941.

Too much jargon? Our glossary will help make sense of things.

Find out more about our Share Dealing Services.

Client Area Access

» Secure Login

» Not registered yet?

aew-banner-180x255.jpg

Branch Finder

Redmayne-Bentley have High Street branches throughout the UK. Find your nearest branch.