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Sports Direct’s half-year pre-tax profits rise 29 per cent to £580m

Sales for the 26 weeks to October increased 23.5 per cent to £1.345 billion.

Income for UK sports retail was £903 million (up 13 per cent year on year), while online sales grew 43 per cent and now represents 15.5 per cent of total sports retail sales.

“We have delivered another strong performance, reflecting our continued focus on providing customers with exceptional quality and unbeatable value – reinforcing our
position as the consumer champion,” Dave Forsey, chief executive of Sports Direct, says.

“The growth in group revenues has been ahead of expectations and achieved against a tough comparative that included the UEFA European Championships and London 2012 Olympics.

“The performance of sports retail is particularly pleasing, with significant growth in the UK, Europe and online.

“The group’s expansion in Europe has also continued, with acquisitions in Austria and the Baltic states.

“The integration of these acquisitions is progressing and we continue to look for further opportunities across Europe.”

Forsey described adidas’ decision to not allow Sports Direct to stock next season’s Chelsea kit as “impossible to understand”.

He added: “We believe this will inevitably lead to a significant reduction in access to these kits and price inflation to consumers.

“Sports Direct will pursue various strategic options in order to protect its leading global market position within the football category.”

According to media reports, furious Sports Direct owner Mike Ashley is threatening to build a hostile stake in adidas, which is worth around £15 billion.

It’s been reported adidas will only make Chelsea replica kit available through the club’s shop and adidas stores from the 2014/15 season.

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