Sports Direct International plc, the UK’s leading sports retailer, provides an update on current trading in advance of its half year end on 27 October 2013.
Group total sales for the nine weeks ending 29 September 2013 were up 15.1% to £463.7m (FY13: £402.7m) and gross profit was up 19.4% to £199.8m (FY13: £167.4m).
Sports Retail sales for the same period increased 14.8% to £395.7m (FY13: £344.7m) and Sports Retail gross profit increased 19.7% to £170.9m (FY13: £142.8m).
Premium Lifestyle sales in the period increased 74.9% to £32.0m (FY13: £18.3m) with gross profit increasing 82.9% to £13.9m (FY13: £7.6m).
Brands division sales increased 12.9% to £36.0m (FY13: £31.9m) with gross profit increasing 9.5% to £15.0m (FY13: £13.7m).
Dave Forsey, Chief Executive of Sports Direct International plc, said:
“As we highlighted this time last year, the London Olympics was followed by an excellent ‘back to school’ period. Therefore to continue to produce these numbers, especially within Sports Retail, clearly demonstrates the strength of our business model.”
"Since the end of September trading has remained strong and the Board is therefore confident of reaching the full year internal stretch underlying EBITDA target of £310m (before the charge for the Employee Bonus Share Scheme)."