Firm plays it cool
Oct 21 2010 Huddersfield Daily Examiner
RETAILER Sports Direct cooled expectations for annual results – despite a sharp jump in profits at the half-year stage.
The owner of Sports World stores and brands, including Slazenger and Donnay, said the early part of 2011 will be extremely challenging for all retailers – meaning it planned to stick by current targets for full-year earnings.
It reported a strong trading performance for the six months to October 24, when profits should be significantly above a year ago.
Group sales rose by 5.4% to £295m in the nine weeks to September 26. Retail profits were up by 6.1% to £105m.