Sports Direct owners have raised the bottom edge of annual forecasts due to strong sales since lockdown ended.
The group currently expects bottom growth to be between 20% and 30%.
Sports Direct has been trading well during the pandemic despite the need to close many stores. Leisurewear sales have been boosted more than the pandemic as people bought clothing online.
For the six months ended October 25th, the group reported an EBITDA of £226.3 million. This was an increase of £181.2 million from the previous year in the same period in 2019.
The group is currently in discussions to save Debenhams from collapse.
Frasers, owner of Sports Direct, said in a statement: “We are in negotiations with managers of Debenhams’ UK operations regarding a potential rescue transaction for Debenhams’ UK operations.”
“The Frasers Group hopes to implement rescue packages and save jobs, but the time is short and the recent management of Arcadia Group, Debenhams’ biggest concession holder, has made it even more complicated. It is not certain that a transaction will take place, especially if the discussion cannot be concluded quickly.”
Frasers Shares (LON: FRAS) trades +6.10% higher at 465,80 (0821GMT).
