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Sales at Sports Direct up 11.5%

Sports clothing and accessories retailer Sports Direct has announced that group sales have grown by 11.5% in the nine weeks to 25 September.

GENERAL MERCHANDISE

Sales at Sports Direct up 11.5%

Sports clothing and accessories retailer Sports Direct has announced that group sales have grown by 11.5% in the nine weeks to 25 September.

Total sales reached £329 million in the period, up from £295 million in the previous year. Gross profit increased by 12% to £131 million.

Retail division sales grew 12.1% to £296 million, and retail gross profit increased 13.3% to £119 million.

In a statement issued today Sports Direct said the group's strong performance had been underpinned by the introduction of its Employee Bonus Share Scheme in 2009 and a new four-year scheme announced earlier this year.

Dave Forsey, chief executive of Sports Direct, commented: "The Group has delivered strong growth through the second quarter, further validating our resilient business model.  The strong trading highlights the positive sales growth achieved post the tough FIFA World Cup comparisons, while we have continued to invest in margin, inventory and additional Group marketing.

"We remain positive about the Group's outlook and are excited about the opportunities in 2012 with the officialSport Relief T-Shirtavailable exclusively in stores and online from 19 January 2012 and both UEFA EURO 2012 and the London Olympics in the summer."
 

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