Sports Direct International (SDI) continues to believe that the devaluation of the euro against the dollar will impact its gross margin, the British sports retailer said in a statement last week, in response to queries about currency hedging. The group said its euro to dollar exchange rate is hedged at 1.46, in an arrangement that is due to expire at the end of the current fiscal year, and the group has no hedging in place for this exchange rate for the next fiscal year. SDI had issued a profit warning after the flash crash of the British currency last year.

Topics