JD Sports Regulatory News (JD.)

10 Jan 2008 07:00

John David Group (The) PLC10 January 2008 10 January 2008 THE JOHN DAVID GROUP PLC CHRISTMAS TRADING STATEMENT The John David Group Plc ("the Group"), the leading retailer of sport inspiredfashion apparel and footwear, today announces an update on performance followingthe Christmas trading period: The Group released an Interim Management Statement on 4 December 2007 and thisreported positive Group like for like sales for the 44 weeks ended 1 December2007 of 11.8% (12.4% Sports Fascias; 2.0% Fashion Fascias). Group like for likesales in the full eight week Christmas trading period to 5 January 2008 werepleasingly positive at 9.3% (Sports Fascias 8.8%; Fashion Fascias (excludingBank) 16.0%). The Group's cumulative positive like for like sales after 49 weeksare at 11.4% (Sports Fascias 11.6%; Fashion Fascias (excluding Bank) 7.8%). The Group's gross margin improved in the first half against the equivalentperiod last year and the level of uplift has improved further in the second halfto date. We have continued to increase marketing, IT and merchandising supportto achieve the current level of sales improvement. We expect the combination ofcontinued progress on margin and like for like sales to result in final headlineearnings for the year ending 2 February 2008 being ahead of the currentconsensus of market expectations. The Board intends, as soon as practicable and prior to the announcement of theresults for the year ending 2 February 2008, to seek a general authority fromshareholders to make purchases of ordinary shares in the company. The Board willonly exercise such authority to purchase shares where it believes to do so is inthe best interest of shareholders generally. The Group will make its Preliminary Results announcement for the year ending 2February 2008 on 17 April 2008. Peter Cowgill, Executive Chairman, commented: "The current trading period hasbeen a very good one for the Group which has seen a further and substantialuplift in our performance as a result of both the strategy adopted by the Boardfollowing my return to the Group as Chairman in 2004, and of a lot of hard workby all our employees over the last three years." Enquiries: The John David Group Plc Tel: 0161 767 1608Peter Cowgill, Executive ChairmanBarry Bown, Chief ExecutiveBrian Small, Finance Director Hogarth Partnership Limited Tel: 020 7357 9477Andrew JaquesBarnaby FrySarah Richardson This information is provided by RNS The company news service from the London Stock Exchange