Clarification: Agent Provocateur / Currency Update

RNS Number : 6800Y

Sports Direct International Plc

07 March 2017

 

Date: 7 March 2017

SPORTS DIRECT INTERNATIONAL PLC

("Sports Direct" or the "Company")

Clarification regarding Agent Provocateur / Currency Update

A number of recent press reports have incorrectly stated that Sports Direct has acquired Agent Provocateur. In fact, Agent Provocateur has been acquired by Four (Holdings) Limited, a company in which Sports Direct has a shareholding of 25%. 

Some reports have also stated that Sports Direct paid £35m two years ago for a stake in Four Marketing. In fact, the amount paid for the shareholding in Four (Holdings) Limited was £8.75m.

Separately in response to certain enquiries received by the Company in relation to currency, we continue to believe the devaluation of the Euro against the Dollar will impact on gross margin.  Our Euro/Dollar exchange rate is currently hedged at 1.46, which is due to expire at the end of FY17 and we currently have no Euro/Dollar hedging in place for FY18.

Ends

Sports Direct International plc Cameron Olsen, Company Secretary	T. 0344 245 9200 E. [e-mail]
KBA PR                                    Keith Bishop	T. 0207 734 9995 E. [e-mail]

 

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