In a further blow to Ashley on Thursday, shares in Goals Soccer Centres, a five-a-side football operator in which Sports Direct owns a 19% stake, slumped nearly 22%. Sports Direct 's profits nosedived by 72.5 % to £ ##35 m ( $ 101.2 ) , down from £ 281.6 m in 2017 , after it took an £ 85 m hit on its investment in struggling department store Target , where it has a 50 % stake , although it noted the 2017 profits had benefited from the sale of its Dunlop business and shares in JD Sports . Debenhams ' shares have plummeted by 66 % since the beginning of 2018 , issuing three profit warnings so far this year , and it came under further pressure during the week of 16 July when it was revealed that credit insurers had reduced their cover for suppliers to the Target store .
Sports Direct 's profits nosedived by 72.5 % to £ ##35 m ( $ 101.2 ) , down from £ 281.6 m in 2017 , after it took an £ 85 m hit on its investment in struggling department store Target , where it has a 50 % stake , although it noted the 2017 profits had benefited from the sale of its Dunlop business and shares in JD Sports . Debenhams ' shares have plummeted by 66 % since the beginning of 2018 , issuing three profit warnings so far this year , and it came under further pressure during the week of 16 July when it was revealed that credit insurers had reduced their cover for suppliers to the Target store .