Sports Direct to be ‘Selfridges of Sport’

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The plays chain’s profits were dented in 2016-17 as it struggled to navigate genuine’s devaluation, but the retailer is expected to show signs of recovery when it uncovers full-year results on Thursday.

Sports Direct is forecast to post underlying profit after tax of £103.18million, climbing 55.1 percent from £66.5million the year in the past, according to consensus estimates.

Revenues are expected to come in at £3.37billion for the year, up 3.9 per cent from £3.24billion.

Earnings before quicken, tax, depreciation and amortisation are forecast to be £292.1million, up from £272.7million, a 7.1 percent incline year-on-year.

Chief executive Mr Ashley, who founded Sports Direct in 1982, has been relay his focus to higher-end brands, with analysts cautiously optimistic respecting the results.

The company upped its stake in struggling department store confinement Debenhams in March, bringing it close to a level at which it must begin a takeover bid.

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