Sports Direct performs well despite World Cup failure
Despite a rise in sales of 8.8 per cent, the chief executive of Sports Direct has said that the company’s results “could have been even stronger” with a better performance from England’s World Cup team.
Dave Forsey made the statement through the Shirebrook-based company’s interim statement, released this morning.
Group total sales for the 13 weeks ending 25 July 2010 were up 8.8 per cent to £408m, an increase on the first quarter of the year, when sales stood at £375m. Gross profits also increased 17.8 per cent to £185m. However, the sports clothing company underwent a dip in brands division revenue, which declined 6.5 per cent to £43m.
Forsey said: "Despite the performance of the England team during the World Cup, these results clearly show that Sports Direct had a good World Cup, although with better team results it could have been even stronger.
"Since the end of July, the group's underlying performance has remained strong and in line with management's expectations, with the group's debt reduction programme continuing to perform well."
