Core sales improve at JD Sports
Store rationalistion boosts sportswear group
John David Group, operator of the JD Sports chain, has seen better trading continue in its core sports retail business.
JD said that since its interim results announced in October, the performance has benefited from the rationalisation of underperforming stores as well as benefitting from weak comparatives with the previous year.
Excluding the RD Scott business acquired in December, group sales were 4 per cent higher in the eight weeks to January 1, with like-for-like sale up 6 per cent.
JD said its underlying margins also improved, but “the more aggressive elimination of underperforming stock has had an impact”. The store closure programme has continued, also boosting performance.
Peter Cowgill, executive chairman, said: “The Christmas trading period has proven that our consumer offer and our strategy are stimulating a continued recovery in the group’s performance.”
