Interim Management Statement

RNS Number : 3363Y

Sports Direct International Plc

21 February 2013

 



21 February 2013

Sports Direct International plc

Interim Management Statement

Continued strong performance in Q3

Sports Direct International plc ("the Group"), the UK's leading sports retailer, today announces its Interim Management Statement relating to the period from 29 October 2012 to 20 February 2013.  

Current Trading Update

Group sales for the 13 weeks ending 27 January 2013 were up 21.1% to £589.5m (2012: £486.8m) and gross profit increased 22.7% to £244.8m (2012: £199.5m). ⁽¹⁾

Sports Retail sales in the 13 week period increased 21.2% to £495.8m (2012: £409.0m), and Sports Retail gross profit increased 23.5% to £203.7m (2012: £165.0m). ⁽¹⁾

UK Sports Retail square footage remained at circa 4m sq. ft. (2012: circa 4m sq. ft.).

Premium Lifestyle sales in the period were up 42.4% to £46.7m (2012: £32.8m) with gross profit increasing 35.1% to £20.4m (2012: £15.1m).

The Brands division revenue increased by 4.4% to £47.0m (2012: £45.0m), and the corresponding gross profit increased by 6.7% to £20.7m (2012: £19.4m).

There has been no material change in the financial position of the Group since the end of the most recent reporting period on 28 October 2012.

(1) Sales and gross profit from the 20 stores acquired from the Administrator of JJB Sports plc on 1 October 2012 are excluded from these figures. These sales will be included in the Group's Preliminary Results within "UK Wholesale and other" until the clearance of acquired stock is complete.

Dave Forsey, Chief Executive of Sports Direct International plc, said:

"As we highlighted back in December at our Interim Results, the Group's strong performance continued during Q3, primarily driven by our Sports Retail division, including online following the successful integration of our new operating platform.

"We are certain of reaching our 2013 full year targeted underlying EBITDA of £270m (before the charge for the bonus share schemes)."

The Group's Preliminary Results will be announced on 18 July 2013.

For further information, please contact:

Sports Direct International plc Dave Forsey, Chief Executive Bob Mellors, Group Finance Director	T. 0845 129 9229
FTI Consulting Jonathon Brill Alex Beagley Georgia Mann	T. 0207 831 3113

Notes to Editors

Sports Direct is the UK's leading sports retailer by revenue and operating profit, with approximately 400 stores across the UK. The Group offers an unrivalled range of products at the best available prices from a variety of third-party and Group-owned brands, both in-store and online.  Sports Direct currently operates in 12 countries outside the UK, including Belgium, Slovenia, Portugal and France.

The Group has an extensive portfolio of over 20 internationally recognised sport, fashion and lifestyle brands including Dunlop, Slazenger, Everlast, Lonsdale and Karrimor.

Sports Direct was founded in 1982, listed on the London Stock Exchange in 2007 and is a constituent of the FTSE 250. 

For more information please visit www.sportsdirectplc.com

 

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