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Drapers Share Monitor - Profit warning likely at Sports Direct

Sportswear retailer Sports Direct this week snapped up a 60% stake in outdoor business Field & Trek for £5 million, but is expected to post poor trading figures.

Analysts predicted a profit warning after talk of double digit drops in like-for-like sales over the past six months. Shares rose 8.25p to 193p.

The speculation about Sports Direct has taken the heat off rival JJB Sports, where like-for-like sales fell 4.1% for the 24 weeks to July 15, blamed on a drop in sales of replica kit. Shares slipped 1.75p to 252.75p.The business is carrying out a review of its own brand under deputy chief executive Chris Ronnie.

Meanwhile Next's shares dipped 53p to 1951p, after a note by analyst Numis suggesting that Marks & Spencer was a better bet in the middle market. Stock at M&S rose 10p to 651.5p.

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