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Sports Direct group sales up 21.1%

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Sports products & clothing retailer Sports Direct has today reported a group sales rise of 21.1 per cent to £589.5 million for its third quarter as its Sport Retail division continues to drive growth.

In the 13 weeks ended January 27th 2013, Sports Retail sales jumped 21.2 per cent to £495.8 million while gross profit in the division leapt to £203.7 million and such a strong performance has seen the retailer gain confidence in its full year forecasts.

Sports Direct International CEO Dave Forsey commented: “We are certain of reaching our 2013 full year targeted underlying EBITDA of £270 million (before the charge for the bonus share schemes).”

Sales of its premium Lifestyle brands rocketed 42.4 per cent compared with the same period last year to £46.7 million as gross profit rose to £20.4 million, up 35.1 per cent.

The Brand division also proved profitable as sales increased 4.4 per cent to £47 million and the group noted there was no change in its financial position.

Forsey concluded: “As we highlighted back in December at our Interim Results, the Group’s strong performance continued during Q3, primarily driven by our Sports Retail division, including online following the successful integration of our new operating platform.”

Published on Thursday 21 February by Editorial Assistant

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