JD Sports Regulatory News (JD.)

17 Jan 2006 07:00

John David Group (The) PLC17 January 2006 17 January 2006 THE JOHN DAVID GROUP PLC CHRISTMAS TRADING STATEMENT Since The John David Group Plc (the "Group") reported its interim results forthe 26 weeks ended 30 July 2005 on 5 October 2005, there has been a substantialimprovement in the like for like sales performance of the core Sports Fascias. The improvement in the gross margin performance of the business achieved in thefirst half has also been maintained and cost ratios further improved. It istherefore expected that Group earnings for the current year to 31 January 2006will exceed current market expectations. Group like for like sales for the 8 weeks ended 7 January 2006 were +4.7%(Sports +6.0%; Fashion -7.5%). Since 1 October 2005, Group like for like salesfor the 14 weeks ended 7 January 2006 were +3.5% (Sports +4.9%; Fashion -9.6%).The cumulative Group year to date like for like sales performance up to 7January 2006 has improved from -2.5% reported on 5 October 2005 to -0.4%. The Allsports business (acquired on 28 October 2005) has been excluded from theabove like for like figures to avoid distortion. The Fashion sales performance has been disappointing but the margin uplift inthis division has been good and the acquired RD Scott stores in particular, haveshown considerably improving trends in recent weeks. The Fashion businesscontinues to account for less than 10% of total Group turnover. The store portfolio obtained from Allsports (Retail) Limited (in Administration)has so far been used to clear its stocks and will make a loss in the currentyear. The clearance process will continue into the first half of 2006/2007, butthe Board is confident that the acquisition will be earnings enhancing in thefull year. Peter Cowgill, Executive Chairman, commented: "We are pleased with ourperformance over the Christmas period and believe it demonstrates that ourconsumer offer and operational strategy are resulting in an improvingperformance from the Group." Enquiries: The John David Group Plc Tel: 0161 767 1608 Peter Cowgill, Executive ChairmanBarry Bown, Chief ExecutiveBrian Small, Finance Director Hogarth Partnership Limited Tel: 020 7357 9477 Andrew JaquesBarnaby Fry This information is provided by RNS The company news service from the London Stock Exchange