Christmas Trading Statement (0517Z)
07 January 2011 - 6:00PM
UK Regulatory
TIDMJD.
RNS Number : 0517Z
JD Sports Fashion Plc
07 January 2011
7 January 2011
JD SPORTS FASHION PLC
CHRISTMAS TRADING STATEMENT
JD Sports Fashion Plc ("the Group"), the leading retailer and
distributor of sport inspired and fashion footwear and apparel,
today announces an update on performance following the Christmas
trading period.
We are pleased to report that Group like for like sales
(excluding Chausport) for the five week Christmas trading period
ended 1 January 2011 were up by 2.5% and the Group's cumulative
like for like sales for the 48 week period to 1 January are up 3.1%
(as compared to 2.8% for the 30 weeks to 28 August reported in the
Interim Announcement on 21 September 2010). Retail gross profit
margins have also been maintained from the previous year.
The Board now believes the Group will exceed current market
expectations for Group profit before tax and exceptional items for
the current financial year (see note below). The Board does however
recognise that the next financial year will present significant
challenges as a result of the impact of both the recent VAT
increase, and inflationary pressures arising particularly but not
only from increased raw material prices.
The Group will make its Preliminary Results announcement for the
year ending 29 January 2011 on 13 April 2011.
Peter Cowgill, Executive Chairman, commented: "The Christmas
trading performance from the Group's main retail fascias has again
been pleasing and in excess of our expectations.
"I am particularly grateful to all our staff who by their
endeavour and commitment ensured that we were largely unaffected
over the full five week period by the difficult weather conditions
experienced in December. This performance is the result of our
strong product and brand proposition presented in inviting retail
settings. Nevertheless the trading environment facing all
retailers, and perhaps clothing retailers in particular, will
provide additional challenges in the year to come."
Note: Consensus analyst expectations for the Group's profit
before tax and exceptional items are currently GBP75.4 million.
Enquiries: Tel: 0161 767 1608
D Sports Fashion Plc
Peter Cowgill, Executive Chairman
Barry Bown, Chief Executive
Brian Small, Finance Director
MHP Communications Tel: 020 3128 8772
Andrew Jaques
Barnaby Fry
Ian Payne
This information is provided by RNS
The company news service from the London Stock Exchange
END
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