FD buys one million shares in Sports Direct

Bob Mellors, FD at embattled retailer Sports Direct has made plain his confidence in the company's future a bought a million shares at 98p.

Written by Gavin Hinks

It was only Wednesday that the company revealed that first-half profits were down 32% blaming poor summer, poor christmas trading and a poor performance from England's national football team. CEO Dave Forsey mirrored Mellors' purchase by making exactly the same investment.

Mellors, like his boss founder Mike Ashley, has faced criticism in the past from the City for failing to make himself available to analysts and not explaining the company's strategy or results.

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The FD was in the firing line again this week after being accused of not explaining whether an unssuccessful currency deal, which lost the retailer £31m, could have been avoided.

For more go to:

Sports Direct under pressure - again

Stand by your FD

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