Interim Management Statement (1125I)
09 June 2011 - 4:00PM
UK Regulatory
TIDMJD.
RNS Number : 1125I
JD Sports Fashion Plc
09 June 2011
9 June 2011
JD Sports Fashion Plc
INTERIM MANAGEMENT STATEMENT
JD Sports Fashion Plc (the "Group"), the leading retailer and
distributor of sport inspired fashion apparel, footwear and young
fashion, today releases the following Interim Management Statement
for the period from 30 January to 4 June 2011.
In the Preliminary Announcement of the Group's results for the
52 week period ended 29 January 2011, issued on 13 April 2011, the
Group reported UK and Ireland like for like gross retail sales
growth of 0.4% and like for like net sales declines of 1.2% (Sports
Fascias -1.4%; Fashion Fascias 0.0%) for the 8 weeks ended 26 March
2011. Our cautious outlook at the time of that announcement remains
unchanged and continues to be based on the very clear downward
pressures on levels of gross consumer expenditure in our market and
the increased VAT take from such expenditure. Overall group trading
remains in line with management's expectations at that time.
Recent comparatives are made harder to interpret in terms of
underlying trading trends as the period coincides with the run up
to the World Cup 2010. Cumulative like for like net sales of the UK
and Ireland Fascias now stand at -2.8% (Sports Fascias -3.0%,
Fashion Fascias -1.6%), with margin deterioration within the range
of our expectations.
Elsewhere in the Group satisfactory progress is being made and
we continue to be well positioned to exploit our financial strength
to take advantage of any strategic opportunities which may
arise.
The Group expects to provide its next trading update with the
Interim Results Announcement on Wednesday 21 September 2011.
Enquiries:
JD Sports Fashion Plc Tel: 0161 767 1000
Peter Cowgill, Executive Chairman
Barry Bown, Chief Executive
Brian Small, Finance Director
MHP Communications Tel: 0203 128 8100
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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