JD Sports LFL sales jog up over festive period

Sports fashion wear retailer JD Sports Fashion has reported positive trading for the five weeks to 7 January.

During the period gross like-for-like (LFL) sales in the core UK and Ireland fascias increased by 1.6% (Sports Fascias +2.3%: Fashion Fascias -0.7%), while net LFL sales increased by 0.1%.

The firm was able to maintain gross profit margins broadly in line with the prior year.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

In a statement the firm said: "Outside of these core businesses, Chausport performed well through this period and whilst Champion's sales continue to be affected by the exceptionally difficult economic environment in the Republic of Ireland, this has been offset by a significant improvement in their margins from improved operational execution.

"Sprinter saw a marginal decline in sales through this period but we remain pleased with the overall direction of this business and we anticipate opening the first JD stores in Spain in the first half of 2012.

"Whilst the very recent acquisition of the trading assets and trade of Blacks Leisure Group will lead to a small reduction in earnings in the current year, the board believes that the final year end outturn will be in the range of current expectations."

NR