Sports Direct International plc , the UK’s leading sports retailer, reported Group sales for its first fiscal quarter ended July 27 climbed 12.2 percent to £711.2 million ($1.21 bn). Gross profit increased 11.8 percent to £301.2 million ($510 mm).
Sports Retail sales in the 13 week period increased 16.3 percent to £611.8 million ($1.04 bn) while Sports Retail gross profit increased 15.8 percent to £260.4 million ($441 mm).
Premium Lifestyle sales in the period were £52.1 million ($88mm) down 8.8 percent with gross profit decreasing 11.6 percent to £20.5 million ($35 mm).
At the Brands division, which includes Dunlop, Slazenger, Everlast, Lonsdale and Karrimor, revenue decreased 7.1 percent to £47.3 million ($59.5 mm). Corresponding gross profit decreased by 4.7 percent to £20.3 million ($25.5 mm).
Dave Forsey, chief executive of Sports Direct International plc., said since its last report on July 27, revenues have been in line with management’s expectations with some stronger weeks offset by England’s disappointing World Cup performance.
He added, “Within Sports Retail we continue to focus on upgrading our store portfolio and integrating recent acquisitions, including Eybl and Sports Experts in Austria. Consistent with previous guidance we continue to target underlying EBITDA (before share scheme costs) of £360m for the current period.”
