Sports Direct International said it sees underlying FY 2017 EBITDA coming in at about £300m, and separately that it had rebuffed a offer to step down by its chairman, Keith Hellawell. The outfit's underlying EBITDA target was dependent on group sales growth of at least 9%, group gross margin decline of no worse than 275 bps and an increase in operating costs of no worse than 8%. It was also dependent on no unforeseen significant items and no material acquisitions. Separately, Sports Direct said Hellawell had been asked by the company's board to continue in his role as chairman. "Dr Hellawell had offered to step down over the weekend in the light of the shortcomings highlighted in the (Working Practices) report, but he will stay in his role in order to assist with making further improvements," it said.
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