LONDON (Dow Jones) -- Sports Direct International, the biggest sports retail chain in the UK, said on Tuesday that bad weather, acerbated by recent flooding in its core market, has hit sales in the new financial year, pushing the shares down as much as 24%.

In a prepared statement, chief executive Dave Forsey said the first three months of the new financial year have been "exceptionally difficult, with the unprecedented weather conditions having an immediate impact on sales."