JD Sports announces Christmas update

REPORT_ JD Sports Fashion has announced an update on performance following the Christmas trading period.

In its last interim management statement released on November 29, 2013, the company had reported that like-for-like sales in the core UK and Ireland Sports and Fashion Fascias for the 42 weeks to November 23, 2013, stood cumulatively at very much the same level as they had after 26 weeks at the half year.

As a result of stronger trading in the Christmas period in the Sports Fascias, the company reports that like-for-like sales for the group’s core Fascia stores at the end of the 48 week period to January 4, 2014, are now marginally ahead of this level with underlying product gross margins largely maintained. The group remains on course to deliver headline profit before tax and exceptional items in line with current market expectations.

JD Sports Fashion is a retailer and distributor of branded sportswear, fashion wear and outdoor clothing, footwear and equipment. Peter Cowgill, Executive Chairman, commented: “Christmas 2013 has seen yet another very robust performance from our core Sports Fascias. Throughout recent years of considerable change and expansion for the group, the core Sports Fascias’ proposition has continued to be developed and enhanced. I am delighted that the most recent six weeks’ trading has continued to give confidence for the future. I also expect considerable further progress elsewhere in the group in 2014.”