• Gross profit was up 7.3% to GBP88m
  • Total sales climb 10.3%
  • Distances itself from Japan Adidas investigation

UK sporting goods company Sports Direct International has posted higher profits over the past nine weeks, thanks to a double-digit sales rise.
 
Providing an update on current trading in advance of its year end on 24 April 2011, Sports Direct said group total sales for the nine weeks ending 27 March 2011 reached GBP236m (US$392m), compared to GBP214m in the prior year period.

Dave Forsey, chief executive of Sports Direct International, said: "We are pleased with the progress made by the group and these results continue to highlight the strength of our retail division and the drive from our investment in margin and advertising."

Meanwhile, Sports Direct told the London Stock Exchange this week that Adidas AG does not supply Reebok EasyTone shoes to its stores, amid news that the Japanese Fair Trade Commission (FTC) carried out an investigation into Adidas' Reebok Japan operation.

A Sports Direct statement said: "We refer to the reports on Tuesday 12 April 2011 that adidas AG's Japanese unit was raided by the Fair Trade Commission for allegedly pressurising retailers not to discount Reebok EasyTone shoes, launched in Japan in 2009.

"Sports Direct wishes to confirm that, since their launch in the UK in 2009 and to date, Adidas AG has not supplied Reebok EasyTone shoes to Sports Direct. Should the above issue arise in the UK, Sports Direct would not face any risk of sanction."

Meanwhile, an Office of Fair Trading's investigation under the Competition Act 1998 into the sports goods retail sector is ongoing in the UK, Sports Direct added.

Reebok owner Adidas Group confirmed to just-style that the Japanese Fair Trade Commission (FTC) carried out an investigation earlier today (12 April).

The company will announce its preliminary results for the year ending 24 April 2011 on Thursday 14 July 2011.