Retailer Sports Direct has delayed publishing its annual results, warning that problems integrating its purchase of House of Fraser stores and increased scrutiny of its accounts could affect the financial guidance it gave in December. Sports Direct described trading in December as “unbelievably bad”. It recently spent time trying – and failing – to buy department stores group Debenhams, after purchasing House of Fraser out of administration last year. “Sports Direct would note that its core principles in regards to its financial statements are to be conservative, consistent and simple,” it said. Mr Ashley had said in December there were significant challenges for House of Fraser, but there was also a “fantastic opportunity” to revive the chain.

Source: The Irish Times July 15, 2019 08:11 UTC