Business news : Sports Direct Sales Surge in August and September

Sports Direct International said sales rose 18.0 percent in the nine weeks ended Sept. 30, to £402.7 million ($645.8 mm).
 
The nine-weeks results were provided as part of an update on current trading in advance of its half year ended Oct. 28.

Gross profit was up 21.7 percent to £167.4 million (167.4 mm).

Sports Retail sales for the same period increased 16.8 percent to £344.7 million, and Sports Retail gross profit increased 20.5 percent to £142.8 million.

Premium Lifestyle sales in the period increased 43.0 percent to £18.3 million (2012: £12.8m) with gross profit increasing 18.8 percent to £7.6 million (2012: £6.4m).

Brands division revenue increased 18.9 percent to £39.7 million (2012: £33.4m) with gross profit increasing 33.9 percent to £17.0 million (2012: £12.7m). This includes Firetrap wholesale sales of £7.8 million (2012: Nil) and gross profit of £3.3 million (2012: Nil).

"The Group has continued to deliver strong growth through the second quarter, especially within the UK Sports Retail division where sales and margins benefited from the London Olympics and an excellent 'back to school' period," said Dave Forsey, chief executive of Sports Direct International plc.

"Since the end of September trading has remained equally strong and the Board is therefore confident of reaching the full year targeted "super stretch" underlying EBITDA of £270m (before the charge for the bonus share schemes)."

The company will announce its Interim Results for the 26 weeks ending Oct. 28 on Dec. 13.

( SportsOneSource Media )