Sports Direct International PLC expects earnings for full-year 2017 to be “in the region of £300 million,” ($402.2 million) the retailer said in a trading update Wednesday. That compares with a profit of £381.4 million for 2016. The sports apparel chain has come under criticism from U.K. lawmakers over working conditions at its Shirebrook warehouse, and key shareholders have been pressing for changes in the retailer’s leadership. In a separate statement Wednesday, Sports Direct said its chairman, Keith Hellawell, had offered to step down “in light of the shortcomings” highlighted in the company’s own report into working conditions, but the board had asked him to stay on. Sports Direct is holding its annual shareholders meeting Wednesday. The retailer’s shares were down 10% on the FTSE 250 index Wednesday morning.
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