Like-for-like sales slow at JD Sports
Sportswear retailer JD Sports has reported that like-for-like sales fell 1.5% in the 16 weeks to 19 November.
The group saw a 3.3% rise in like-for-like sales in the seven weeks to 17 September but sales growth fell back in subsequent weeks to 0.2%, making a net decline of 1.5%.
The Bury-based retailer said that performance since 17 September had been impacted by a marked decline in consumer confidence and warned that trading conditions would be tough during the Christmas period.
The group said it was continuing to work hard to maintain margins despite experiencing adverse pressure due to the difficult trading environment.
In a statement issued today the group said: “The result for the full year remains, as usual, substantially dependant on the performance through the Christmas period. However, at this stage the board believes the group remains on course to deliver earnings in line with current expectations.”
