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Drapers - Share monitor - Sports Direct profits to beat forecast

Sports Direct received a boost this week after house broker Merrill Lynch said it expected the chain to unveil better-than-expected profits of £250 million next month.The full-year report will be its first results since it went public in March. Merrill Lynch said profits would be £14m better than forecast. Shares rose 7p to 184.75p.

Debenhams will stop supplying product to German department stores in August, after a disappointing debut in the market. Shares fell 1.5p to 130.75p.

Despite news that value chain Primark was hunting for a successor to retiring chairman and chief executive Arthur Ryan, shares in parent Associated British Foods rose 9p to 890p.

Burberry reported a total sales uplift of 30%, from £135.4m to £167.5m, for the 13 weeks to June 30. Shares were down 18p to 675p ahead of the results.

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