Mike Ashley's warning earlier today that trading at Sports Direct was pretty dire in November sent investors running for cover. Shares in the sports retailer are down almost 15%.
That has prompted the company, which bought House of Fraser this year, to push out an urgent clarification:
"At the Interim Results Presentation held at Academy House today, in response to a question concerning current trading in our sports retail business Chief Executive Mike Ashley stated that November's trading was unbelievably bad.
"The Company wishes to confirm, however, that we have taken November's trading into account, and we reiterate Mike Ashley's statement included in the Interim Results announced earlier today: "Excluding House of Fraser we anticipate we will be within our previously communicated underlying EBITDA growth range of 5-15% by year end, and including House of Fraser we expect to be behind last year's result."