Interim Management Statement

RNS Number : 2981F

Sports Direct International Plc

19 February 2015

 

19 February 2015

Sports Direct International plc

Interim Management Statement

Sports Direct International plc ("the Group"), the UK's leading sports retailer, today announces its Interim Management Statement relating to the period from 27 October 2014 to 18 February 2015.

Current Trading Update

Group sales for the 13 weeks ending 25 January 2015 were up 2.6% to £771.0m (2014: £751.6m) and gross profit increased 7.6% to £346.9m (2014: £322.3m). ⁽¹⁾

Sports Retail sales in the 13 week period increased 2.7% to £643.2m (2014: £626.1m), and Sports Retail gross profit increased 9.4% to £297.2m (2014: £271.6m). ⁽¹⁾

Premium Lifestyle sales in the period decreased 0.4% to £70.9m (2014: £71.2m) with gross profit decreasing 2.8% to £27.6m (2014: £28.4m).

The Brands division revenue increased 4.8% to £56.9m (2014: £54.3m), and the corresponding gross profit decreased by 0.9% to £22.1m (2014: £22.3m).

There has been no material change in the financial position of the Group since the end of the most recent reporting period on 26 October 2014.

(1) Sales and gross profit of Sports Eybl & Sports Experts AG and Sportland International Group AS, which were acquired on 26 June 2013 and 12 August 2013, are included in both the current period figures and in the prior period.

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

"As we highlighted at our interim results in December, trading has been in line with management's expectations. Within Sports Retail we continue to focus on upgrading our store portfolio and integrating our business in Austria where a weak Winter sports season across Europe has proved challenging.

"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 £360m, before the charge for the Employee Bonus Share Schemes."

The Group's Preliminary Results (for the year ending April 2015) will be announced  on 16 July 2015.

For further information, please contact:

Sports Direct International plc             T. 0845 129 9229

Dave Forsey, Chief Executive

Powerscourt                                          T. 0207 250 1446

Rory Godson

Victoria Palmer-Moore

Greg Lawless

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 provides an unrivalled range of products, offering exceptional quality and unbeatable value, from a wide variety of third-party and Group-owned brands, both in-store and online. Sports Direct now operates in 20 countries in Europe.

For more information please visit: www.sportsdirectplc.com

 

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