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Olympics help grow multichannel sales at Sports Direct

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Olympic fever boosted sales at Sports Direct both online and off in the first half of its financial year.

The multichannel retailer said this week that online sales grew by 54% in the 26 weeks to October 28, and now account for 12.5% of its total sports retail sales, up from 9.5% at the same time last year.

At the same time, Sports Direct reported a 22.5% rise in group revenue to £1.1bn, while pre-tax profits rose by 24.8% to £125.2m.

Chief executive Dave Forsey said: “The group continues to deliver growth across its divisions and we have maintained our investment in margin, inventory and extra group marketing, while also investing for future growth, particularly in our International and ecommerce divisions.

“As stated in October, the board remains confident of reaching our full year targeted underlying EBITDA of £270m (before the charge for the bonus share schemes).”

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