Sports Direct has slammed a report that suggested that the company’s CEO-to-average employee pay ratio was the second highest in the FTSE 350, calling it ‘fake news’ circulated by an "irresponsible organisation".
Sports Direct reported a 57% slump in first-half profit, capping a calamitous period in which it has come under fire for the treatment of workers and was left badly exposed by a low value pound after the Brexit vote.
Sports Direct said its acting CFO was leaving to take a new job, the second management change in less than a month when the British retailer's profit is plunging and it is trying to mend its battered image.
Britain's Sports Direct, the retailer trying to mend its battered image, named its billionaire founder and controlling shareholder Mike Ashley as chief executive on Friday after Dave Forsey quit the role.
Retailer Sports Direct said a weaker pound would push up the cost of its imports and consumer confidence would deteriorate as it assessed on Thursday the likely impact of the UK's decision to leave the EU.
Mike Ashley, the billionaire founder of British retailer Sports Direct, defended the business he built from scratch but told MPs he would work to fix some shocking failings during heated exchanges in parliament.