Sports Direct on track to hit its targets

Retailer Sports Direct beat tough comparisons with last year to report an 11 per cent sales rise over the Christmas and January period.
By DOMINIC JEFF
Published 19th Feb 2014, 20:51 BST
Brands like Golddigga helped Sports Direct's figures. Picture: ContributedBrands like Golddigga helped Sports Direct's figures. Picture: Contributed
Brands like Golddigga helped Sports Direct's figures. Picture: Contributed

The group, which has 409 stores in the UK and also operates in 19 other countries selling brands such as Golddigga achieved revenues of £655.4 million in the 13 weeks to the end of January.

Gross profits increased 14.6 per cent to £280.7m, and chief executive Dave Forsey said the firm was “very confident” of achieving “at least” its full-year target.

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“Despite tougher comparisons during the period, sports retail continues to perform well driven by our on-going focus on exceptional quality, unbeatable value and availability,” he said.

“Online also performed strongly with non-UK online gross profit contribution expected to be greater than the UK equivalent by the end of this financial year.”

The figures keep Sports Direct staff on track to meet targets under the latest four-year bonus scheme. Last year, the firm rewarded around 2,000 employees with shares worth more than £68,000.