UK: Sports Direct “confident” after 11% Q3 sales surge
- Q3 group sales up 11.2% to GBP655.4m
- Sports retail sales up 6.9% to GBP529.9m
- Company “confident” of hitting FY targets
Retailer Sports Direct International said it was on track to meet its full-year earnings forecast after seeing group sales rise 11.2% in the three months to 18 February.
Sports retail sales were up 6.9% in the third quarter, while premium lifestyle revenues surged up 52.5% to GBP71.2m and the company’s brands division posted a sales increase of 15.5% to GBP54.3m.
“Online also performed strongly, with non-UK online gross profit contribution expected to be greater than the UK equivalent by the end of this financial year,” said company chief executive Dave Forsey.
He added that the company remained “very confident” of achieving its full-year underlying EBITDA target of GBP310m.
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