Goals Soccer Centres shares (LON:GOAL) fell on Friday after the company downgraded its guidance for the year.
The soccer centre operator said it had conducted a review of its full-year results for December-end to resolve accounting errors alongside its auditors KPMG.
As a result, it said it would be taking a more ‘prudent’ approach going ahead.
As a result, the company said that the board now expects full year results to be “materially below expectations”.
In addition, Goal Soccer Centres said the previously scheduled reporting date of the 12 March would be delayed.
Despite this, the company said trading during the first two months of the year has been ‘strong’ with an increase in like-for-like sales, in both the UK and US markets.
The firm operates 50 soccer sites including four in California in the USA.
Billionaire Mike Ashley’s Sports Direct holds an 18% stake in the company.
Sports Direct hit the headlines today after it launched a bid to take control of high street department store Debenhams (LON:DEB).
Alongside stakes in Goal Soccer Centres and Debenhams, Mike Ashley owns House of Fraser (LON:HOF) and Newcastle United Football Club.
Shares in Goal Soccer Centres are currently trading -31.25% as of 12:08PM (GMT).