Sports Direct reports 11.2% sales growth as non-UK online sales expected to rise also
Sports Direct saw group sales grow by 11.2 per cent to £655.4m during its most recent quarter, with an increase of 14.6 per cent gross profit to £280.7m while it has claimed its non-UK online sales will exceed those in the UK this year.
The sports retailer has reported the figures for the 13 week period, ending 26 January, where is saw revenue within its brand division increase by 15.5 per cent to £54.3m, and gross profit increase by 7.7 per cent to £22.3m.
Sports Retail sales increased by 6.9 per cent to £529.9m while its profit increased by 12.9 per cent to £230m. The premium lifestyle sales were up by 52.5 per cent to £71.2m, with grow profit growing by 39.2 per cent to £28.4m.
Dave Forsey, chief executive of Sports Direct International, said that despite “tougher comparisons”, the company continued to perform due to its “exceptional quality, unbeatable value and availability.”
He continued to reveal that online sales were also strong, and that non-UK online gross profit was expected to be greater than in the UK by the end of the financial year.
"While we retain the ability to invest in margin, inventory and Group marketing to deliver long-term sustainable growth, the Board is very confident of achieving at least our full year internal underlying EBITDA target of £310m, before the charge for the Employee Bonus Share Scheme,” he added.
In January, the company bought a 5 per cent stake in department chain Debenhams.
Sport Direct is expected to announce its preliminary results on 17 July.