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Sports Direct earnings on track

Sports Direct says it is on track to meet its full-year earnings forecast after strong trading over the Easter holidays.

CITY & CORPORATE

Sports Direct earnings on track

Sports Direct says it is on track to meet its full-year earnings forecast after strong trading over the Easter holidays.

Group total sales for the 9 weeks ending 28 March 2010 were up 2.9% to £214m and gross profit rose 7.9% to £82m.

Retail division sales for the same period increased 6.0% to £178m and retail gross profit increased 9.7% to £68m as a result of the lower US dollar exchange rate.

It raised expectations for full-year earnings in February after increasing the target from £140 million to £155 million in December.

Chief executive Dave Forsey said: "We continue to be pleased with the strong performance of our retail division, including the growth of internet trading."

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