UK: Retail surge boosts Sports Direct FY profit
- FY underlying profit up 32.7% to GBP135.5m
- Revenues up 10.2% to GBP1.59bn
- International sales up 10.3% to GBP132.3m
Retailer and brand owner Sports Direct boosted underlying full-year pre-tax profits by nearly a third, thanks to a double-digit sales rise in the 12 months to 24 April.
The company, the UK’s biggest sporting goods retailer with brands including Sports World, Lillywhites, Slazenger and Dunlop, saw like-for-like UK retail sales growth of 6.6% and international sales up 10.3%.
“This has been an excellent year of growth for the group in what has been a challenging retail environment,” said Sports Direct chief executive Dave Forsey.
“Our progress since the year end is in line with management expectations and we are confident of reaching our current year target of underlying EBITDA.”
Retailer Sports Direct has urged the UK Office of Fair Trading (OFT) to investigate the outdoor and sports retail markets following the sale of Blacks Leisure to rival JD Sports....
JD Sports today (9 January) confirmed that it is in "advanced discussions" with struggling outdoor retailer Blacks Leisure about buying its assets....
Blacks Leisure Group today (6 January) said that it plans to enter administration as part of plans to sell the business....
The UK's largest outdoor clothing and equipment retailer, Blacks Leisure Group Plc, today (23 December) said talks over the sale of the business are continuing, but that it does not expect an offer fo...
Speculation over the future of the Blacks Leisure brand continues with reports over the weekend that potential buyers see a pre-pack administration as the only viable solution of the troubled retailer...
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Sports Direct has revealed that it does not intend to pursue a bid for troubled outdoor retailer Blacks Leisure....
Retailer Sports Direct said it was on track to hit its full-year earnings target after underlying pre-tax profits held steady in the first half of the fiscal year....
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