A LACK of snow saw Sports Direct feel the chill over the festive period.
The company, founded by Newcastle United owner Mike Ashley, said a weaker winter season across Europe impacted on results.
It said group sales for the 13 weeks to January 25 were up 2.6 per cent to £771m, compared to £751.6m compared to the same period last year, with gross profit higher at £346.9m.
Sales across its sports retail division were also up 2.7 per cent £643.2m, though sales in its lifestyle arm, which includes the Republic and USC chains, were marginally down from £71.2m to £70.9m.
The company also included sales and profits from its Austrian Sports Ebyl and Sports Experts and Sportland International Group divisions, highlighting a poorer winter, partly delivered by a lack of snow on the Alps.
Dave Forsey, Sports Direct’s chief executive, said: “We continue to focus on upgrading our stores and integrating our business in Austria, where a weak winter sports season across Europe has proved challenging.
“The board is very confident of achieving at least our full-year internal underlying Earnings before interest, taxes, depreciation, and amortization target of £360m, before the charge for the charge for the employee bonus share schemes.”
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