Sports Direct International plc , the UK's leading sports retailer, reported Group sales for the 13 weeks ended July 27 were up 12.2 percent to ?11.2 million ($1.21 bn) compared with ?34.0 millon a year earlier. Gross profit increased 11.8 percent to ?01.2m $510 million compared with ?69.3 million in the year earlier quarter.
Sports Retail sales in the 13 week period increased 16.3 percent to ?11.8 million ($1.0.4 bb) compared with ?26.0 million, and Sports Retail gross profit increased 15.8 percent to ?60.4 million ($441 mm) compared with ?24.8 million.
Premium Lifestyle sales in the period were ?2.1 million ($88mm) down 8.8 percent from ?7.1 million with gross profit decreasing 11.6 percent to ?0.5 million ($35mm) from ?3.2 million.
At the Brands division, which includes Dunlop, Slazenger, Everlast, Lonsdale and Karrimor, revenue decreased 7.1 percent to ?7.3 million compared with ?0.9 million in the year earlier period. Corresponding gross profit decreased by 4.7 percent to ?0.3 million compared with ?1.3 million.
Sports Direct reported that there has been no material change in the financial position of the Group since the end of the most recent reporting period on 27 April 2014.
"As we highlighted at our preliminary results in July, recent trading, including the period since 27 July, has been in line with management's expectations with some stronger weeks offset by England's disappointing World Cup performance," said Dave Forsey, Chief Executive of Sports Direct International plc. "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 ?60m for the current period."
The Group will report its Interim Results on 11 December 2014.
Sports Direct is the UK's leading sports retailer by revenue and operating profit, with approximately 400 stores across the UK. The Group provides an unrivalled range of products, offering exceptional quality and unbeatable value, from a wide variety of third-party and Group-owned brands, both in-store and online. Sports Direct operates in 19 countries in Europe, including Belgium, Austria, Slovenia, Portugal and France.
