John David Group full year could be ahead of expectations
John David has said that full year earnings should be ahead of market expectations.
Like for like sales in the eight weeks to 5 January 2008 were up 9.3 per cent, previously, the group had reported like for like sales growth of 11.8 per cent in the 44 weeks to 1 December 2007. The group said like for like sales in the full eight week Christmas trading period to 5 January 2008 were ‘pleasingly positive’ at 9.3 per cent (Sports Fascias 8.8 per cent; Fashion Fascias (excluding
Bank) 16.0 per cent). The Group’s cumulative positive like for like sales after 49 weeks were at 11.4 per cent (Sports Fascias 11.6 per cent; Fashion Fascias excluding Bank) 7.8 per cent).
Peter Cowgill, Executive Chairman,commented ‘The current trading period has been a very good one for the Group which has seen a further and substantial uplift in our performance as a result of both the strategy adopted by the Board following my return to the Group as Chairman in 2004, and of a lot of hard work by all our employees over the last three years.’
