THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Sales growth slows at Sports Direct due to weak winter season

Sports Direct saw its gross profit increase by 7.6% to £346.9 million in its Christmas period with group sales edging up 2.6% to £771 million.

GENERAL MERCHANDISE

Sales growth slows at Sports Direct due to weak winter season

This compares to sales growth in the same period in the previous year of just over 11%.

In the 13 weeks to 25 January, sports retail sales grew by 2.7% to £643.2 million as gross profit increased by 9.4% to £297.2 million.

The premium lifestyle business fared less well with sales falling by 0.4% to £70.9 million and gross profit dropping by 2.8% to £27.6 million.

Meanwhile, the brands division's revenue increased by 4.8% to £56.9 million. Gross profit slipped by 0.9% to £22.1 million.

Sports Direct chief executive Dave Forsey 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 £360 million, before the charge for the Employee Bonus Share Schemes."

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
National Minimum Wage Breakfast Briefing
National Minimum Wage Breakfast Briefing
20 September 2018
6th Floor 1, St. Martin's Le Grand London, EC1A 4AS
National Minimum Wage Breakfast Briefing