Consolidated net sales fell 0.1% in the first quarter and comparable sales fell 1.1%. The retailer reaffirmed its full year guidance and expects its second quarter comparable sales to decrease in the low-single digits.
Sports Direct said late on Thursday that it has taken strategic stakes in US-based businesses Iconix and Finish Line as it seeks to "hopefully build a relationship and develop commercial partnerships".
Iconix Brand Group reported Q1 2017 revenue down 11%. Q1 also saw the strategic sale of its entertainment segment for $345 million in cash, which will provide the bulk of cash used to reduce company debt by $362 million.