Sports Direct Slumps as Retailer Delays Results on Auditing
- Number of issues could materially affect December guidance
- Shares are on track for their lowest close in seven years
Shoppers walk past a Sports Direct store in London.
Photographer: Tolga Akmen/AFP via Getty Images
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Sports Direct International Plc shares headed toward a seven-year low after the U.K. sports-apparel retailer delayed publishing its results as auditors increase their scrutiny of its accounting.
The U.K. retailer said Monday it needs more time to compile information as regulators review Grant Thornton’s audit of its fiscal 2018 results, and that the review may affect its financial guidance. The shares fell as much as 14% in morning trading in London.