Reuters/Toby MelvilleSports Direct founder Mike Ashley at a Newcastle United game.Discount sports retailer Sports Direct was once a high-flier in the FTSE 100.

Now, shortly after being relegated to the lesser FTSE 250 index, the company has put out its second profit warning so far this year - the latest setback for the under fire retailer.

Sports Direct on Wednesday released a "Clarification", saying:
In the light of recent press coverage, Sports Direct wishes to clarify that its current expectations for adjusted underlying EBITDA [earnings before interest, tax, deductibles, and amortization] (before share scheme costs) for the full year to the end of April 2016 are at or around the bottom of the range announced on 8 January 2016.

The retailer forecast an EBITDA range of