Shop workers in the Sports Direct empire will be quids in after the award of a bonus that will mean they receive shares worth thousands of pounds.
An employee earning £20,000 in the company, which includes outdoor retailer Field & Trek, will receive shares worth £75,000.
A similar scheme last year paid £17,500 to someone on a £20,000 wage.
The share bonuses will go to 2,000 qualifying Sports Direct workers after tough profit targets were met.
The employees must have worked full-time for the company, which also owns the Karrimor brand, for a number of years.
Schemes for 2014 and 2015 promise similar payouts if profit targets are met. Pre-tax profits leapt 40 per cent for the company, which targets the budget end of both the sports and outdoor markets.
Chief executive Dave Forsey said: “There is no doubt that the group’s record-breaking results were in the large part down to our colleagues and their hard work.
“The employee bonus share schemes have continued to drive this performance and we are pleased that eligible employees will be rewarded in August as the second and final part of the 2009 employee bonus share scheme vests.
“The employee bonus share schemes have been a fundamental tool which the group has used to promote, incentivise and motivate its staff.
“Sharing the responsibility of achieving these targets was matched by the potential benefits to employees if the targets were met.
“The schemes have been crucial to influencing staff behaviour and maximising the group performance.”
Turnover of staff fell last year from 17 per cent to 15½ per cent.
Billionaire Mike Ashley, who owns the majority of the company, was denied a payout under the company’s super-stretch executive bonus share scheme.
However, the £100m-worth of shares he sold earlier this year will help keep the wolf from his door. Mr Ashley devised the share scheme for employees that has led to the huge payouts to ordinary staff.
The company has also recommended no dividend be paid to shareholders.
Tim Peers
20 July 2013At last---a billionaire who is paying his staff some decent money. Who appreciates that the hard work of his staff is the reason he is a billionaire, and that they are entitled to a share of the profits.