JD Sports reports sales rise

JD Sports has reported that group like-for-like sales have risen 4.7 percent in the 8 weeks ended 7 January. The sportswear retailer also said that its earnings would surpass expectations. Sportswear sales increased 6 percent during the Christmas and New Year period, while the group's fashion stores, which account for less than 10 percent of total sales, saw sales drop 7.5 percent.

"We are pleased with our performance over the Christmas period and believe it demonstrates that our consumer offer and operational strategy are resulting in an improving performance from the group," chairman of owner The John David Group Peter Cowgill said in a statement. The John David Group, which also operates stores under the First Sport brand, reported that it had maintained a boost in gross margins during the first half thanks.