Home / Knowledge / News / Apparel/Garments / Sports Direct sales surge 18% in 13-weeks to Sept 10
Sports Direct sales surge 18% in 13-weeks to Sept 10
11
Sep '13
Sports Direct International plc, the UK’s leading sports retailer, today announces its Interim Management Statement relating to the period from 29 April 2013 to 10 September 2013.

Current Trading Update

Group sales for the 13 weeks ending 28 July 2013 were up 18.2% to £613.3m (2013: £519.0m) and gross profit increased 23.2% to £260.1m (2013: £211.1m). (1) (2)

Sports Retail sales in the 13 week period increased 14.5% to £505.3m (2013: £441.4m), and Sports Retail gross profit increased 20.3% to £215.6m (2013: £179.2m). (1)

UK Sports Retail square footage at 28 July 2013 was circa 4m sq. ft. (2013: circa 4m sq. ft.).

Premium Lifestyle sales in the period were up 98.3% to £57.1m (2013: £28.8m) with gross profit increasing 91.7% to £23.2m (2013: £12.1m). (2)

The Brands division revenue increased by 4.3% to £50.9m (2013: £48.8m), and the corresponding gross profit increased by 7.6% to £21.3m (2013: £19.8m).

There has been no material change in the financial position of the Group since the end of the most recent reporting period on 28 April 2013.

Sales and gross profit of Sports Eybl & Sports Experts AG, which was acquired on 26 June 2013, are excluded from these figures.

Sales and gross profit of Republic, which was acquired on 28 February 2013, are included in the current period figures, but not the prior period.

During this period, UK Sports Retail has opened 11 and closed three core stores, three of which were core relocations.  We also opened two non-core stores.  European Sports Retail opened three stores - one in Spain and two in Poland.

Dave Forsey, Chief Executive of Sports Direct International plc, said, “As we highlighted at our Preliminary Results in July, the Group has experienced a strong start to the year with trading ahead of management’s expectations.  This performance is in part attributable to the historic investment in gross margin; the on-going investment in product range and availability; and continued optimisation of our online and in-store product offer.

“Weare in the process of integrating our recent acquisitions, including Republic in the UK, Sports Eybl & Sports Experts in Austria and Sportland in the Baltic region.  As a result, we continue to target our internal stretch underlying EBITDA target of £310m (before the charge for the 2011 Employee Bonus Share Scheme).”

Sports Direct

Must ReadView All

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Apparel/Garments | On 28th May 2017

Naked Brand, Bendon sign agreement to reorganise

Naked Brand Group, a fashion and lifestyle brand, and Bendon Limited, ...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search