SPORTS DIRECT PROFITS SOAR LINING UP STAFF FOR A WINDFALL – Sports Direct has announced that profits from its operations have increased by a staggering 40% leaving no doubt that some retailing companies are able to perform well.
Sports Direct currently has 396 shops around the UK and its owner Mike Ashley is set to distribute millions of shares to his employees that could reap a bonus windfall of up to £76,500.
The operating plan was to revamp stores, making them more appealing and to slash prices; obviously a good move considering the increasing number of austerity measures imposed upon the British public by the Government.
Some 2,000 staff members are in line to be awarded with shares and with many of them living on a ‘basic wage’ this will certainly come as a much needed and very pleasant surprise.
The annual reports showed a 40% leap in profits to £207.2 million which was largely attributed to staff incentive and bonus schemes made available to high performing sales staff.
The company’s chief executive, David Forsey stated that profits were a combination of better products, lower prices and simply good value all round.
The staff incentive program worked extremely well, which clearly shows what can be achieved when company bosses and staff pull together to make things work. It is also highly admirable that Sports Direct bosses are willing to share the success with valued staff.
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