Sports Direct International plc reported sales of £317m ($641.3mm) for the quarter ended January 27, with a profit of £142 million ($287.3mm). The company said that though business has remained in line with expectations since quarter-end, it raised its EBITDA guidance for by 7.5% to approximately £148 million from the £137.7 million for fiscal 2007-08.
The guidance excludes the impact of foreign exchange and exceptional items.
During the period, the retailer opened 15 new stores and closed 13 small stores.
Sports Direct also expects to receive soon approximately $58 million for the 14.6 million shares of Umbro it had not already sold to Nike. The company sold 29 million of its Umbro shares to Nike in December for £56.1 million pounds ($111.8mm) as part of Nike's acquisition of Umbro.
