Sports Direct, the sporting goods chain based in the U.K., reported total group sales for the nine weeks ending March 27 rose 10.3 percent to €236 million ($388 million), while gross profit increased by 7.3 percent to €88 million ($146 million).
Sports Direct added it expected to meet its target for reaching full year underlying EBITDA of at least €205 million.
If successful, this would trigger a bonus share plan for 2,500 Sports Direct staff, who stand to receive the equivalent of 75 percent of their base salaries converted into shares priced at 125 pence. The shares are currently trading at around 200 pence.
Sports Direct said it intended to extend the bonus share scheme. The incentive program vests in 2013, but staff must still be working at the company to benefit.
