JD Sports like-for-like sales up 1.5%
Sportswear retailer JD Sports has reported a rise in like-for-like sales in its third quarter despite what the retailer described as a tough trading environment.
In the 16 weeks to 17 November, like-for-like sales in the core UK Sports and Fashion Fascias grew by 1.5%. This follows an increase of 1.1% in the first half.
JD said in a statement: "The trading environment in our markets remains tough and particularly so for the Fashion Fascias. This is reflected in the split of the LFL sales in the 16-week period, being Sports Fascias +3.5% and Fashion Fascias -6.6%."
The group said it had begun its investment into Blacks, the outdoor leisure retailer it acquired in January, and that the early signs were “encouraging” as it works to turn the business around. JD will provide an update on the division in its post-Christmas trading update in January 2013.
Regarding the outlook for the group, JD said: "The result for the full year remains, as usual, substantially dependent on the performance through the Christmas period and particularly in the last two weeks of December. At this stage the Board believes the Group remains on course to deliver earnings in line with current expectations."
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