Last checked at 9 Jan 2009 07:00
9 January 2009
JD SPORTS FASHION PLC
CHRISTMAS TRADING STATEMENT
JD Sports Fashion Plc ("the Group"), the leading retailer of sport inspired fashion apparel and footwear, today announces an update on performance following the Christmas trading period.
In contrast to many retailers in the clothing and footwear sector, the Group deferred discounting activity until Boxing Day and gross margin for the five week period between our Interim Management Statement on 2 December 2008 and 3 January 2009 was maintained at prior year levels. In the light of this and and having specific regard to the strong sales performance in the previous year (Group like for like sales for the five weeks ended 5 January 2008 were up 9.6%), we are pleased to report that Group like for like sales have continued to show a positive trend with an increase of 2.8% during the five week period to 3 January 2009 (Sports Fascias up 1.0% and Fashion Fascias up 12.5%).
The Group's cumulative like for like sales for the 48 week period to 3 January 2009 are therefore up 3.8% (Sports Fascias up 3.1% and Fashion Fascias up 8.0%), with gross profit margins having improved marginally over the full period compared to the previous year.
The Board now believes that current market expectations for profit before tax and exceptional items will be marginally exceeded.
The Group will make its Preliminary Results announcement for the year ending 31 January 2009 on 8 April 2009.
Enquiries:
JD Sports Fashion Plc Tel: 0161 767 1695
Peter Cowgill, Executive Chairman
Barry Bown, Chief Executive
Brian Small, Finance Director
Hogarth Partnership Limited Tel: 020 7357 9477
Andrew Jaques
Barnaby Fry
Ian Payne