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Sports Direct to reach full year EBITDA target as Q3 sales rise by 21%

Sporting goods retailer Sports Direct has said it is certain of reaching its full year target EBITDA of £270 million after group sales surged 21.1% to £589.5 million in its third quarter.

GENERAL MERCHANDISE

Sports Direct to reach full year EBITDA target as Q3 sales rise by 21%

Sporting goods retailer Sports Direct has said it is certain of reaching its full year target EBITDA of £270 million after group sales surged 21.1% to £589.5 million in its third quarter.

In the 13 weeks ending 27 January 2013, gross profit increased 22.7% to £244.8 million

While sports retail sales in the period increased 21.2% to £495.8 million, sports retail gross profit rose 23.5% to £203.7 million.

Sales at the group’s  Premium Lifestyle division, which includes Cruise and USC, climbed 42.4% to £46.7 million with gross profit increasing by 35.1% to £20.4 million.

Revenue at its brands division revenue was up 4.4% to reach £47 million while the corresponding gross profit rose 6.7% to £20.7 million.

Sports Direct chief executive Dave Forsey said: "As we highlighted back in December at our Interim Results, the Group's strong performance continued during Q3, primarily driven by our Sports Retail division, including online following the successful integration of our new operating platform."


 

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