Sports Direct retail sales surged 16.8% to £344.7m in its second quarter driven by the Olympics and an “excellent” back-to-school period.
The retailer said it was on track to reach “super stretch” underlying EBITDA of £270m before the charge for the bonus share schemes.
For the nine weeks to October 28, total sales across the group advanced 18% to £402.7m, while gross profit was up 21.7% to £167.4m.
Premium lifestyle sales rocketed 43% to £18.3m and sales at the brands division increased 18.9% to £39.7m.
Sports Direct International chief executive Dave Forsey said: “The group has continued to deliver strong growth through the second quarter, especially within the UK sports retail division where sales and margins benefited from the London Olympics and an excellent back-to-school period.”
Retail Week revealed yesterday that following 83% growth online due to post-Olympic growth, the retailer is consolidating more than 100 web platforms and content management systems into one.