Sports Direct International has announced that for the 13 weeks ending July 25, group total sales rose by 8.8 percent to £408 million (€495.7m-$630.4m). The gross profit margin increased by 3.4 percentage points to 45.3 percent.
On the retail side, revenues grew by 11.6 percent to £365 million (€443.5m-$564.0) and the gross margin grew by 3.3 percentage points to 45.8 percent. The brands division had a 6.5 percent drop in turnover to £43 million, but the gross margin inched up by 2.8 percentage points to 41.9 percent.
Sports Direct opened eight new stores and closed two in the U.K.. Outside the home market it opened one in Cyprus.
Since the end of July, SDI said its performance has remained strong and in line with management’s expectations, with its debt reduction program continuing to perform well. It has reaffirmed its guidance for underlying Ebitda for the full year of about £195 million (€236.9m-$301.3m).
