The U.K.'s biggest sporting goods retailer, Sports Direct International Plc expects to meet earnings expectations despite “challenging” market conditions. Sports Direct, 70 percent controlled by billionaire and Newcastle United soccer club chairman Mike Ashley, said it was confident of reaching full-year earnings before interest, tax, depreciation and amortisation (EBITDA) of 148 million pounds ($294 million).
The company is also planning a repricing and remerchandising initiative in Britain and a joint venture with Chinese retailer ITAT to sell its brands, which include Slazenger, Lonsdale, Dunlop, Kangol, No Fear, Karrimor and Donnay, in ITAT's 700 stores in China.
