Profits have fallen sharply at Sports Direct because of negative publicity about its working conditions and a tough High Street environment.
The company posted an 8.4% drop in underlying annual profit on Thursday £275.2m.
But reassurance from the company that it would not go private and that it may buy back shares bolstered its share price, traders said.
Its shares were up by about 6%, having risen 13% earlier in the session.
This put it among the top gainers on Britain's FTSE 250 index of mid-cap companies.
The retailer was harshly criticised for the way it treated its staff, including paying salaries below the minimum wage.