The Sports Direct chain has said that fourth quarter sales rose 10.3% to
£360 million as it criticised shareholders for vetoing a bonus share scheme for its founder Mike Ashley.

Dave Forsey, chief executive of Sports Direct, said: "Sports Retail continues to perform well since the end of January, primarily driven by our on-going focus on exceptional quality, unbeatable value, availability and the continued optimisation of sales between stores and online.

"During the period, the Board was extremely disappointed to withdraw the resolution regarding a proposed share scheme award to Mike Ashley.  The most disappointing aspect was where large shareholders gave their support only to then vote differently. This outcome is likely to lead to further uncertainty in the future.

"While we retain the ability to invest in margin, inventory and Group marketing to deliver long-term sustainable growth, the Board is very confident of achieving at least our full year internal underlying EBITDA target of £310m, before the charge for the employee bonus share scheme."