He said: “This is probably your fault we are in this mess because we can’t talk to you”.
Advertisement
Ashley later told reporters he was sorry for what had happened.
“Obviously, [criticism in the press] hurts me personally”, Ashley said, adding: “In the end, if I keeping failing. maybe it will be best that I go. But I don’t want the headline “excuses”, I want the headline “sorry”.
However, the billionaire, who also owns Newcastle United FC, said that, despite speculation, he has no intention to take the company private.
In his pockets? A huge wad of red £50 notes – nearly a flawless caricature of a 1980s business tycoon.
“We therefore call on Sports Direct to reconsider its proposal to only move 10 agency workers a month on to direct, permanent contracts”.
The joke may have been lost on a lot of workers at the site who, the company admitted, had not been receiving the national minimum wage.
Discount retailer Sports Direct has pledged to offer its casual shop floor staff guaranteed hours instead of zero-hours contracts and ensure all warehouse workers are paid above the minimum wage.
“It has gone a long way but not far enough”.
Shares had risen over 5% on Tuesday following the publication of a report into working practices at Sports Direct.
In a unscheduled statement, the retailer announced profits were likely to fall 21 per cent due to rising costs and tighter margins, and that Hellawell would continue in his role as chairman, despite coming under pressure from a number of major shareholders.
Insurance company L&G also voted against the report and reiterated its demand for corporate governance reforms.
Several other investors, including Legal & General, have said they will oppose the re-election of Hellawell.
Shareholder Royal London said Hellawell’s position was untenable.
Despite this, Sports Direct said it rejected an offer by Hellawell to resign, and with Ashley owning a controlling stake, he prevailed over minority investors.
In a vote of all shareholders, about 81% of votes cast were in favour of re-electing Hellawell and 92% in favour of re-electing founder and majority shareholder Mike Ashley.
“I have confirmed today that should I not receive the support of a majority of our independent shareholders at next year’s AGM, I will step down at that time with immediate effect”.
The Institute of Directors (IoD) has also called for an overhaul of the way the firm is run.
Shares in Sports Direct (LON:SPD) have tumbled almost 10 percent in London this morning, as the company warned that its earnings will slip to £300 million this year.
The group, which had previously failed to give a profit forecast for the year, made core earnings of 381.4 million pounds in the year ended April 24, 2016.
Advertisement
Shares in Sports Direct, which have fallen 43 percent this year, were up 2 percent at 339 pence at 0744 GMT.
