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Annual Report & Accounts 2019
ANNUAL REPORT & ACCOUNTS 2019 SPORTS DIRECT INTERNATIONAL PLC AT A GLANCE Founded as a single store in 1982, Sports Direct International plc (Sports Direct, the Group, the Business or the Company) is today the UK’s largest sporting goods retailer by revenue. The Group operates a diversified portfolio of sports, fitness, fashion and lifestyle fascias in over 20 countries. We have approx. 29,400 staff across six business segments: UK Sports Retail, Premium Lifestyle, House of Fraser Retail, European Sports Retail, Rest of World Retail and Wholesale & Licensing. Our business strategy is to invest in our people, our business, and our key third party brand partners, in order to elevate our retail proposition across all our channels to attain new levels of excellence. The Group aspires to be an international leader in sports, lifestyle, and luxury apparel retail, by offering our customers a dynamic range of iconic brands. We value our people, our customers, our shareholders and our third-party brand partners - and we strive to adopt good practices in all our corporate dealings. We are committed to treating all people with dignity and respect. We endeavour to offer customers an innovative and unrivalled retail experience. We aim to deliver shareholder value over the medium to long-term, whilst adopting accounting principles that are conservative, consistent and simple. MISSION STATEMENT ‘TO BECOME EUROPE’S LEADING ELEVATED SPORTING GOODS RETAILER.’ CONTENTS 1 HIGHLIGHTS AND OVERVIEW 002 2 STRATEGIC REPORT Chair’s Statement ��������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������� -
Forward Together
FORWARD TOGETHER Sports Direct International plc Annual Report and Accounts 2017 Founded in 1982, Sports Direct International plc As part of this strategy, we anticipate that the core (Sports Direct, Group or the Company) is today the Sports Direct business will move towards becoming UK’s largest sporting goods retailer by revenue, and the “Selfridges” of sport. operates a diversified portfolio of sports, fitness, fashion and lifestyle fascias and brands. The Group provides a full multi-channel retail approach across its fascias in the UK, and We aspire to be a leading sports and lifestyle retailer increasingly across its fascias in continental Europe internationally and to deliver sustainable growth and elsewhere. The Group also wholesales and for our shareholders in the medium to long term by licenses its Group Brands to partners in the UK, offering our customers an unrivalled range of high continental Europe, the Americas, and the Far East. quality leading brands. Each year Sports Direct’s c. 29,000 people work The Group’s strategy is to invest in our people together to serve customers and collaborate with and our key third party brand partners in order to our global wholesale and licensing partners to elevate our retail proposition to attain new levels promote the Group’s Brands. of excellence across our multi-brand, multi-sport offering to customers. Forward Together Sports Direct International plc Annual Report and Accounts 2017 CONTENTS Operational highlights 04 Independent auditor’s report to the members of Sports Direct International -
Annual Report 2012
Dave Forsey Chief Executive 19 July 2012 contents group OVERVIEW 04 At A Glance 05 Financial Highlights 06 Operational Highlights 08 Retail Stores 10 Online 12 Brands THE BUSINESS REVIEW 14 Chairman’s Statement 16 Chief Executive’s Report 36 Financial Review MANAGEMENT AND GOVERNANCE 44 The Board 46 Directors’ Report 50 Corporate Governance Report 56 Directors’ Remuneration Report 60 Directors’ Responsibilities Statement 62 Corporate Responsibility Report FINANCIAL STATEMENTS AND NOTES 67 Independent Auditor’s Report to the Members of Sports Direct International plc 68 Consolidated Income Statement 69 Consolidated Statement of Comprehensive Income 70 Consolidated Balance Sheet 71 Consolidated Cash Flow Statement 72 Consolidated Statement of Changes in Equity 73 Notes to the Financial Statements 106 Independent Auditor’s Report to the Members of Sports Direct International plc 107 Company Balance Sheet 108 Notes to the Company Financial Statements 111 Consolidated Five Year Record ADDITIONAL INFORMATION 112 Shareholder Information 3 Sports Direct is the UK’s leading sports retailer by revenue and operating profit, and the owner of a significant number of world-famous sport, fashion and lifestyle brands. 4 / GROUP OVERVIEW at a glance Who we are • Our Group is the leading Sports Retailer in the UK. • We supply competitively priced sports and leisure equipment, clothing, footwear and accessories. • We sell third-party brands and Group-owned and licensed brands. • As at 29 April 2012 our Group operated out of 395 stores in the United Kingdom (excluding Northern Ireland) mainly under the SPORTSDIRECT.com and Field & Trek fascias. During the year we acquired 67 stores in the Premium Lifestyle division. -
Everything Is Changing Sports Direct Fitness
EVERYTHING IS CHANGING FASCIAS SPORTS RETAIL SPECIALIST SPORTS PREMIUM LIFESTYLE INTERNATIONAL BRANDS SPORTS & LEISURE FASHION & LIFESTYLE CONTENTS STRATEGIC REPORT 02 Key highlights 04 Everything is changing 10 Sports Direct at a glance 12 Chairman’s Statement 14 Our business model 15 Our strategy Sports Direct is the UK’s leading sports retailer by revenue and operating profit, and the owner of a significant number of world-famous sport, fashion 16 Key Performance Indicators and lifestyle brands. 17 Risks and uncertainties 21 Chief Executive’s report and business review We provide a full multi-channel approach to the UK and European Retail markets. Our strategy includes identifying opportunities for improvement 25 Financial review through in-store specialist collaborations and acquisitions, developing online 28 Corporate social responsibility report opportunities and leveraging the SPORTSDIRECT.com fascia. The Group continues to enhance its store portfolio and Sports Retail now GOVERNANCE operates out of over 661 stores in the UK and internationally. 33 The Board 34 Directors’ report 37 Corporate governance report 44 Directors’ remuneration report 53 Directors’ responsibilities statement FINANCIAL STATEMENTS 54 Independent auditor’s report to the members of Sports Direct International plc 57 Consolidated income statement 58 Consolidated statement of comprehensive income 59 Consolidated balance sheet The Sports Direct International plc website is available on multiple platforms 60 Consolidated cash flow statement including mobile devices.