Last checked at 12 Jan 2017 07:00
12 January 2017
JD Sports Fashion Plc
Trading Update
JD Sports Fashion Plc (the 'Group'), the leading retailer of sports, fashion and outdoor brands, today announces an update on performance following the Christmas trading period.
In the announcement of the Group's interim results on 13 September 2016, we reported that the 26 week period to 30 July 2016 had been another period of excellent progress for the Group, with like for like store sales growth in the period across all Group fascias, including those in Europe, of approximately 10%.
We are pleased to report that this positive trading has continued through the second half of the year with the cumulative like for like store sales growth for the 49 weeks to 7 January 2017 across all Group fascias maintained at this level. This is a particularly pleasing performance given the very strong like for like growth achieved in the previous three years.
Notwithstanding the requirement for ongoing investment in the operational infrastructure to support an increasingly complex and international Group, the Board expects that the headline profit before tax and exceptional items for the current financial year will exceed current consensus market expectations of £200m by up to 15%.
The Group will make its Preliminary Results Announcement for the 52 weeks ending 28 January 2017 on 11 April 2017.
Peter Cowgill, Executive Chairman, commented:
"I am delighted to report that we have maintained our excellent momentum from the first half of the year. Whilst we acknowledge that it would be unreasonable to expect like for like sales growth to be maintained at recent levels for a fifth consecutive year, we are confident that both domestically and internationally, our unique and often exclusive sports fashion premium brand offer provides a solid foundation for future development.
"On behalf of the Board, I would like to thank all our colleagues for their significant contribution towards this exceptional performance."
Enquiries:
JD Sports Fashion Plc Tel: 0161 767 1000
Peter Cowgill, Executive Chairman
Brian Small, Chief Financial Officer
MHP Communications Tel: 0203 128 8100
Andrew Jaques
Barnaby Fry
Gina Bell