Sports Direct's acting finance director steps down

Sportswear retailer Sports Direct has said its acting finance director, Matt Pearson, will step down after four months in the role.

It comes just weeks after chief executive Dave Forsey resigned, prompting founder and Newcastle United owner Mike Ashley to step in.

The retailer has been buffeted by falling profits and criticism over its working practices.

Sports Direct said Mr Pearson was leaving to take up a new job.

Mr Ashley said he would be "a loss to the company".

Mr Pearson will be replaced on an interim basis by Herbert Monteith, a long-standing member of the finance team, Sports Direct said.

Sports Direct founder Mike Ashley is currently the retailer's chief executive

Last week, Sports Direct cut its profit forecast for the second time in a month, blaming the "flash crash" in sterling.

The 450-store group warned profit next year would be £15m lower than forecast due to drop in the value of the pound, and could slip lower. It had previously expected to report underlying income of £300m, down from £381.4m last year.

The company has also been trying to repair its image after MPs likened working practices at its Shirebrook warehouse with those "of a Victorian workhouse".

Sports Direct, which was also criticised for its use of zero-hours contracts, said it would review conditions and offer workers who want them guaranteed hours. It also said it would put a worker on the board.

Mr Forsey's resignation on 23 September came after independent shareholders had criticised the firm's governance and called for the removal of chairman Keith Hellawell.