2,000 Sports Direct staff to receive £100,000 bonus after record profits

[easynow]

More than 2,000 shop floor staff at Sports Direct are set for a life-changing windfall after record profits at the fast-growing, cheap-and-cheerful chain triggered a bonus payout that will see workers who earn £20,000 a year banking payouts of £100,000 each.

While six-figure bonuses are usually reserved for executives, the UK's biggest sports retailer set up its bonus scheme back in 2009 for any full-time staff, from stockroom to the boardroom, who had worked for the company for a year and stayed for a further four. Since then the retailer's fortunes – and its share price – have been transformed and the workers have hit the jackpot.

The company's profits have soared 40% to more than £200m in the past year, at a time when the high street has been struggling badly and even Tesco has been forced to scale back expansion plans.

But Sports Direct, set up 30 years ago by billionaire and Newcastle United owner Mike Ashley, has gone from strength to strength with its pile it high, sell it cheap business model.


http://www.guardian.co.uk/business/2013/jul/18/sports-direct-staff-bonus-profits

 

[shaolinpunk]

I'd be lucky to get a £10 bonus

 

[Hugo Rune]

Ashley is the best retailer in the country. Very clever guy.

 

[JJ McClure]

After spending 5 years working for Sports Direct they probably deserve it.

 

[Dave the OAP]

Will ther be a clamour to tax this at 100% like there is for bankers?

 

[Wardy]

Though I do wonder just how many of their staff are on the £20,000 a year needed to qualify.

 

[Bad Ash]

Though I do wonder just how many of their staff are on the £20,000 a year needed to qualify.

The OP says 2,000. I suppose it'd be interesting to know what percentage of total employees this was, what an employee earning £19,999 would get, if anything.

 

[Mad as my Mother]

Though I do wonder just how many of their staff are on the £20,000 a year needed to qualify.

Just a guess from the title, I would say around the 2000 mark

 

[Herr Tubthumper]

The OP says 2,000. I suppose it'd be interesting to know what percentage of total employees this was, what an employee earning £19,999 would get, if anything.

If the cut off is 20k then nothing I guess?

 

[Wardy]

The OP says 2,000. I suppose it'd be interesting to know what percentage of total employees this was, what an employee earning £19,999 would get, if anything.

Missed the bit about 2000 staff. As for the percentage of staff I would say it is fairly low, especially for the customer facing staff. £20k a week is just shy of £400 a week. There are not that many people in retail earning that sort of money. Add to that the fact they tend to employ shop staff on a part-time basis would make me think the majority of the 2000 will be either managers, or staff in head office.

 

[Mad as my Mother]

I would guess that it will be pretty much all managers or assistant managers. It does say shop floor workers so one would hope it's not going to people in head office.

 

[Gazwag]

Though I do wonder just how many of their staff are on the £20,000 a year needed to qualify.

If the cut off is 20k then nothing I guess?

The OP says 2,000. I suppose it'd be interesting to know what percentage of total employees this was, what an employee earning £19,999 would get, if anything.

Now I read it that EVERY member of staff who was working in 2008 received free shares if targets were reached and they were still there four years later.

The £20k is just to show how much their shares would be worth, so somebody on £10k would, I guess, have shares worth £50k.

 

[yxee]

Can't complain, they sell exactly the stuff I want at ridiculously low prices. Good for them.

 

[FloatLeft]

Can anyone tell me why they're all Spanish in the Sports Direct store?


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[Ernest]

Can anyone tell me why they're all Spanish in the Sports Direct store?


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Que ?

 

[Deleted member 18477]

Can anyone tell me why they're all Spanish in the Sports Direct store?


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I thought that last time i went in there!

 

[Foolg]

Can anyone tell me why they're all Spanish in the Sports Direct store?


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The last time I went in there, the only people shopping were either illiterate Brits, or Spanish tourists, might play a part. They seem to love the fact you can buy a football shirt in there for £20/30 ish, which would cost you £60 at least in the rest of mainland Europe. They also seem to like the old, chavtastic Nike and Adidas trainers they sell.

I've bought one thing in their in the last couple of years (back support belt for the gym), granted it was cheap.

 

[EDS]

They made 200 million, 2000 multiplied by £100,000 is 200 million, does not sound right?

 

[GingerBeerMan]

Can anyone tell me why they're all Spanish in the Sports Direct store?


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Probably because they're the only ones willing to work hard for a minimum wage. Most Brits would rather claim benefits than work for minimum wage.

 

[bha100]

Yeah what a wonderful company, considering 9 out of 10 staff are on zero-hour contracts, thats 90% of Sports Directs workforce, must be a joy being exploited by this mob.

http://www.independent.co.uk/news/uk/home-news/sports-direct-employs-nine-out-of-10-of-staff-on-zerohour-contracts-8736003.html