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Sales and profits soar at Sports Direct despite fashion decline

Group sales at Sports Direct for the 13 weeks to July 27 were up 12.2% to £711.2m while gross profits increased 11.8% to £301.2m.

Sales in the sports division rose 16.3% to £611.8m during the period and gross profit for sports climbed 15.8% to £260.4m.

However, sales in the premium lifestyle division fell 8.8% to £52.1m with gross profit down 11.6% to £20.5m.

The brands division revenue dropped 7.1% to £47.3m while gross profit for the category was down 4.7% to £20.3m.

Dave Forsey, chief executive of Sports Direct International, said trading was in line with management’s expectations.

“Some stronger weeks were offset by England’s disappointing World Cup performance. Within Sports Retail we continue to focus on upgrading our store portfolio and integrating recent acquisitions, including Eybl and Sports Experts in Austria,” he added.

The group will report its next interim results on December 11.

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