August 09, 2017
Decathlon, one of the most popular sports brands, is set to open a new branch in Brighton. To add to this, they will be neighbouring their competitor Sports Direct.
Decathlon currently has 30 stores opened up in the UK, and a lot more across Europe. They expect that the North Street store will be opened up at some point in October, although no date has been set. The French sports store has continued to expand across the UK starting last year when they opened their first store in Sussex.
With Decathlon quickly expanding, Sports Direct recently reported that their profits have taken a fairly aggressive spiral. In the report which they published, Sports Direct stated that their profits have dropped by a significant 58.7% and went on to blame the GBP drop for this profit failure.
As a result of their profits taking a huge hit, the sports-retailer revealed that they had made just over £113 million in the tax year 2016-17. To us this is a lot of money, to them, it's a performance drop.
Mr Ash ley, the owner of Newcastle United, said, "We are doing all that we can to prevent the GBP worth from dropping any further and stopping this from stunting our business' growth."
Sports Direct is still in the midst of several legal action cases and by adding this to their list of problems, we can only wonder if this is the beginning of Sports Direct's downfall.
Following the accusations last year where Sports Direct were accused of appalling working practices, Mr Ashley, along with the rest of the Sports Direct management team, have had to go out of their way to rebuild their damaged reputation.
The management team have stated, "Over the last year we have made tremendous progress in advancing our business in the right direction, but unfortunately this has yet to reflect in our sales figures."
Decathlon is a chain which is known exclusively for their vast selection of sporting gear. Even sports gear such as kayaking equipment can be purchased at Decathlon!
On top of Decathlon's bold move to open a new store next to their competitor, they will be launching stores in Dunstable, Beckton, Kensington, High Wycombe, Uxbridge, and Chingford throughout the rest of the year.