Member Article

January profits increases at Mike Ashley's Sports Direct

Sales have increased 11.2% at Newcastle United owner Mike Ashley’s Sports Direct, in the 13 weeks to January.

A trading statement from the retailer confirmed gross profits had increased by 14.6% to £280.7 million.

The Group’s Sports Retail sales increased 6.9% to £529.9 million in the 13 week period, up from £495.8 million in 2013, and Sports Retail gross profit increased 12.9% to £230 million, up from £203.7 million in 2013.

Dave Forsey, chief executive of Sports Direct International plc, said: “Despite tougher comparisons during the period, Sports Retail continues to perform well driven by our on-going focus on exceptional quality, unbeatable value and availability.

“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.

“While we retain the ability to invest in margin, inventory and Group marketing to deliver long-term sustainable growth, the Board is very confident of achieving at least our full year internal underlying EBITDA target of £310m, before the charge for the Employee Bonus Share Scheme.”

This was posted in Bdaily's Members' News section by Tom Keighley .