At the Umbro Annual General Meeting, Peter McGuigan, CEO, said that sales for the year are in line with expectations. International Wholesale Sales and Royalty Income are anticipated to continue to grow. Asia has delivered a “particularly pleasing performance,” with China generating the bulk of the growth. Likewise, Europe is forecast to increase and robust growth from Russia is expected.
USA sales will be lower, although this will have little impact on profits. Latin America shows growth on last year. The UK marketplace continues to be highly competitive. Sales will be materially higher than last year driven by the World Cup effect. The new English National Team away shirt and related product have been delivered on time ahead of the World Cup and as momentum builds, strong sell through at retail is anticipated.