Sports Direct sales race ahead in first quarter Sportswear retailer Sports Direct today unveiled a jump in sales and profits for the first three months of its financial year. The group, which recently awarded shares worth about £130 million to thousands of its staff, said gross profits in the 13 weeks to 28 July grew 23.2 per cent to £260.1 million, on sales 18.2 per cent higher at £613.3m. Speaking ahead of the retailer's annual meeting, chief executive Dave Forsey said: "The group has experienced a strong start to the year with trading ahead of management's expectations. This performance is in part attributable to the historic investment in gross margin, the ongoing investment in product range and availability, and continued optimisation of our online and in-store product offer. Sports Direct, founded by Newcastle United owner Mike Ashley, is due to report its half-year results on 12 December.