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Olympic flame burns bright for Sports Direct
(L-R) David Richardson, Dave Forsey and Mike Ashley. Picture: PA
RETAIL chain Sports Direct set a strong sales pace yesterday after summer trading was lifted by the Olympics and back-to-school demand.
The group – which has nearly 400 stores and owns brands including Donnay, Karrimor and Slazenger – said total revenues jumped 18 per cent to £402.7 million in the nine weeks to 30 September. This included a rise of 17 per cent to £344.7m in its core sports retail business, where underlying profits increased by a fifth to £142.8m.
The improvement by Sports Direct, which is majority owned by Newcastle United boss Mike Ashley, came in a period when rival JJB Sports conceded defeat in its battle for survival.
Sports Direct chief executive Dave Forsey said the period to September was buoyed by demand for products linked to the London Olympics.
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Monday 20 May 2013
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