SDI: sports retail performs better than its brands

sports_direct_shop_2In an interim statement released before its general annual meeting later today, Sports Direct International (SDI), the large British retailer, has released an overview of its financial evolution during the 13 weeks up to July 27. Overall sales were up by 12.2 percent to £711.2 million (€885.1 million), while gross profit improved by 11.8 percent to £301.2 million (€374.8 million) over last year’s period.

During the same period, sports retail operations jumped by 16.3 percent to £611.8 million (€761.4 million); their gross earnings went up by 15.8 percent to £260.4 million (€324.1 million). Management indicates that this development would have been even better if English soccer kit sales had been fueled by a better performance from the “Three Lions” during the world cup in Brazil.

SDI’s premium lifestyle retail unit saw sales drop by about 8.8 percent to £52.1 million (€64.8 million). Wholesale trade with group-owned brands such as Dunlop, Lonsdale, Karrimor, Everlast and many others lost ground by 7.1 percent to £47.3 million (€58.9 million), whereas gross profit dwindled by 4.7 percent to £20.3 million (€25.3 million).

The brief statement by management did not indicate any currency effects, nor differentiate between organic sales evolution and increases due to acquisitions, notably the Austrian-chain Sport Eybl & Sports Experts last summer

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