Monday 24 July 2017

Pressure on Ashley as staff leave Sports Direct

Mike Ashley, Sports Direct, at Westminster. Photo: Reuters
Mike Ashley, Sports Direct, at Westminster. Photo: Reuters

Sam Chambers

Mike Ashley, the British billionaire behind embattled retailer Sports Direct International, has grappled with declining growth, a plunging share price and a parliamentary grilling at Westminster this year.

Now he's got another problem: Disappearing employees.

Turnover among Sports Direct's salaried UK staff rose by more than three percentage points last year to 22pc, the company disclosed in its annual report.

That's almost three times the average rate of UK employers, according to a 2015 survey by the Chartered Institute of Personnel and Development.

"An increase of turnover of that magnitude is incredibly worrying," Bryan Roberts, a retail analyst at consultancy TCC Global, said. "Below senior level at Sports Direct it's hard to achieve any sort of discernible benefits above and beyond your hourly wage."

A Sports Direct spokesperson didn't respond to a request for comment about staff turnover.

(Bloomberg)

Irish Independent

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