Sports Direct (LON:SPD) have been ranked above Apple for its innovation in retail, according to the latest Internationalisation Retail Index.

The Index produced by Loqate along with Planet Retail RNG and Retail Week Connect, put the sportswear company fourth in the world. This is one spot higher than Apple, with Amazon coming in at the top spot and John Lewis at number 11.

Sports Direct issued a statement in a stock exchange announcement on Thursday, sending shares up modestly in early morning trading.

Michael Murray, the group’s Head of Elevation, said: “I’m pleased that Sports Direct is starting to be mentioned in the same breath as other great companies like Apple and John Lewis. It’s a huge accolade for all our people, whom I’d like to thank for their loyalty and hard work.

“This index shows that our elevation strategy, along with our approach to innovative initiatives such as our strategic investments and partnerships, is continuing to gain traction.”

Shares in Sports Direct are currently trading up 0.09 percent at 404.80 (1009GMT).