The Sports Direct share price instantly shot up this morning ahead of the company’s annual conference later today at Newcastle United.
It was revealed in advance of Sunday’s relegation decider that the Sports Direct ‘Annual Conference’ would go ahead at St. James’ Park regardless of the result.
The Mail reported that Mike Ashley would go ahead as usual with his hosting of the bash for his top employees, with coaches laid on to bring them from the Shirebrook HQ up to Tyneside today.
Food, drink and entertainment are to be laid on as usual for the yearly do which Ashley puts on at St. James’ Park, with staff also getting the chance to play on the pitch before it is dug up next week and reseeded for next season, following the Rugby League matches this weekend.
The latest profits of Sports Direct are expected to be above forecasts according to City AM, at around £290m.
Ahead of the ‘Annual Conference’ at St. James’ Park, Sports Direct released this statement to the London Stock Exchange on Thursday morning:
‘A series of presentations will be given by the management team covering the continued investment in our large format UK city centre stores and in our ten Austrian megastores.
In addition employees will receive an update on our plans for combined gym and sports retail concepts, following on from the successful launch last year of our Aintree combined concept.’
No doubt before getting onto the more serious business of toasting Mike Ashley for the free food and drink, as well as the better than expected profits meaning the big bonuses are still on track for the small number of top staff, as opposed to the 90% or so on zero hours contracts.
You just can’t keep a good man down…and the Newcastle United owner will return to the scene of his much debated Sunday interview/speech/sermon, though this time he will undoubtedly have a much more appreciative audience.