Sports Direct cashes in on ‘sporting summer’ with 20% rise in profits
06/09/2012
Profits were up 20% against last year to £211 million at the UK-based company, and sales totalled £256 million during the period.
Its chief executive, Dave Forsey, said: "During this unprecedented sporting summer our retail performance continues to go from strength to strength. Our depth and breadth of product combined with the continued investment in lowering prices is underpinning this performance.
"Since the end of July, trading has remained equally strong, especially within the UK Sports Retail division where sales have also been boosted by the tremendous performance of Team GB at the London Olympics.”
The chain, which has nearly 400 stores, was said to have benefitted from its discounting strategy and strong online sales.
Last week, rival JJB Sports put itself up for sale after several cash injections failed to halt a decline in sales and profits.
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