Results improve for the John David Group
In a trading update to be delivered to shareholders today, the company will announce results for the 25 weeks ended 21st July 2007
Group like for like sales growth for the period has improved to 9.4%. The Sports Fascia stores are now up by 9.9% cumulatively, having benefited from an earlier sale clearance period, the sale having started only on the weekend of 22/23 July last year. The Fashion Fascia stores are now also up by 1.7% cumulatively. Overall gross margins continue to reflect a recent improving trend, aided by dollar weakness and further gradual growth in own brand merchandise sales.
The company’s Board has said that they remain confident of at least achieving current market expectations, whilst continuing to anticipate more challenging second half trading conditions, given rising interest rates, strong prior year comparatives and the continuing extension of distribution channels by core sports brands.
