Sports Direct, which is owned by Mike Ashley, has announced that its profits are rising. They were up by 14.6% in the 13 weeks ending on 26 January 2014, totalling £280.7 million.
Here are some of the key figures in more detail:
- Sales for the 13 weeks ending 26 January 2014 were up 11.2% to £655.4m
- Sports Retail sales in the 13 week period increased 6.9% to £529.9m
- Premium Lifestyle sales in the period were up 52.5% to £71.2m
- The Brands division revenue increased by 15.5% to £54.3m
The company will release their preliminary results on 17 July 2014.
Newcastle United owner Mike Ashley has made £106 million after selling a 2.7% stake in his Sports Direct business.
It comes less than a year after he raised £100 million by offloading a 4% holding.
The sale was announced after Sports Direct reported yet more strong trading figures, with a 15.1% sales surge in the nine weeks to September 29.
Mr Ashley still has a 61.7% holding in Sports Direct.
More than 2,100 jobs have been saved by Sports Direct International's purchase of 116 stores from fashion retailer Republic.
The Sports World group has also taken over the stock, along with the group's head office in Leeds and its websites and brands SoulCal, Fabric and Crafted.
Newcastle United owner Mike Ashley has raised 100 million pounds after selling a four percent stake in his company.
The move has sparked speculation over his plans for the cash haul, amid rumours that the sports retail tycoon is interested in expanding his retail empire - possibly to include collapsed fashion chain Republic.
Sports Direct's brands also include Firetrap, Dunlop, Slazenger, Everlast, Lonsdale and Karrimor.
The Newcastle United owner currently owns a 64% stake of Sports Direct's shares, and Nick Bubb, an independent retail analyst, believes Mr Ashley's share sale may have been in response to requests to free-up stock to investors:
"I think he's doing it to improve liquidity in the stock - he doesn't need the money and if he was intending to bid for retail assets, he would do that through Sports Direct."
The move may also fuel hopes among Newcastle United fans that Mr Ashley is planning to bolster the squad with more new players in the summer, having recently secured five new signings.