Sports Direct cautious over expectations for the year
Mike Ashley's Sports Direct business cooled expectations for annual results yesterday despite seeing a sharp jump in profits at the half-year stage.
The owner of Sports World stores and brands including Slazenger and Donnay warned the early part of 2011 will be extremely challenging for all retailers, meaning it planned to stick by current targets for full-year earnings.
It reported a strong trading performance for the six months to October 24, when profits should be significantly above a year ago.