Dave Forsey Chief Executive 19 July 2012 - Sports Direct International

34 / THE BUSINESS REVIEW
Chief Executive’s Report
contracts essential to the
business of the group
The Group has long established relationships with Nike and
adidas, the major suppliers of third-party branded sporting goods,
particularly footwear, and considers that continued supplies from
these companies is critical to the business of the Group.
environmental matters
The Corporate Responsibility Report is on pages 61 to 65 and a
review of the assessment of the Group’s impact on the environment
is included in the Corporate Responsibility Report on page 63.
Research and development
The Group’s success depends on the strength of the Group brands
and, to a lesser extent, the licensed-in brands.
The Group’s efforts to continually develop or obtain brands in a
timely manner or at all may be unsuccessful.
Outlook
Trading since the period end has remained in line with
management’s expectations where increased investment in
margin has been funded by stronger retail sales. In spite of the low
expectations surrounding England’s participation in Euro 2012 and
the unseasonal weather our core divisions are performing well.
Excitement is building towards the Olympics and we continue to
target our 2013 “Super Stretch” underlying EBITDA objective of
£270m (before the charge for the bonus share schemes).
Dave Forsey
Chief Executive
19 July 2012