However, Kempster described the overall World Cup impact on trade as only “a blip” because the retailer was now an international business and included fashion chains such as Flannels and USC. Sports Direct's profits nosedived by 72.5% to £77.5m ($101.2), down from £281.6m in 2017, after it took an £85m hit on its investment in struggling department store Debenhams, where it has a 29.7% stake, although it noted the 2017 profits had benefited from the sale of its Dunlop business and shares in JD Sports. The company said that sales at its stores fell 0.4% year-on-year during the period, while like-for-like sales dropped 2.4%.
Sports Direct's profits nosedived by 72.5% to £77.5m ($101.2), down from £281.6m in 2017, after it took an £85m hit on its investment in struggling department store Debenhams, where it has a 29.7% stake, although it noted the 2017 profits had benefited from the sale of its Dunlop business and shares in JD Sports. The company said that sales at its stores fell 0.4% year-on-year during the period, while like-for-like sales dropped 2.4%.