Last checked at 12 Jan 2012 07:00
12 January 2012
JD SPORTS FASHION PLC
CHRISTMAS TRADING STATEMENT
JD Sports Fashion Plc (the "Group"), the leading retailer and distributor of sport and athletic inspired fashion apparel, footwear and fashion and outdoor clothing and equipment, today announces an update on performance following the Christmas trading period.
Considering the challenging trading conditions which have been widely reported, and set against several years of compound growth, we are pleased to report that in the 5 weeks to 7 January 2012 gross like for like sales in the core UK and Ireland fascias increased by 1.6% (Sports Fascias +2.3%: Fashion Fascias -0.7%) and after taking into account the impact of the additional VAT the net like for like sales increased by 0.1%.
We have also been able to maintain gross profit margins broadly in line with the prior year.
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 Plc will lead to a small reduction in earnings in the current year, the Board believe that the final year end outturn will be in the range of current expectations.
The Group will make its Preliminary Results announcement for the year ending 28 January 2012 on 12 April 2012 and will provide a fuller update on the recent acquisition at that time.
Peter Cowgill, Executive Chairman, commented: "I would like to thank all our staff who through their efforts and commitment in this busy trading period, have helped deliver this creditable result."
Enquiries:
JD Sports Fashion Plc |
Tel: 0161 767 1620 |
Peter Cowgill, Executive Chairman
Barry Bown, Chief Executive
Brian Small, Finance Director
MHP Communications | Tel: 020 3128 8100 |
Andrew Jaques
Barnaby Fry
Ian Payne