JD Sports makes strong start to financial year
Sportswear retailer JD Sports has said its new financial year has started well but warned that the weak Euro will affect its margins in its overseas stores.
In an update prior to its annual general meeting, JD Sports executive chairman Peter Cowgill said: “The board is pleased that the group has made a strong start in the first 19 weeks of the new financial year. We remain pleased with the growing level of sales in Europe although the weak Euro will impact our margins in our JD stores outside the UK.”
The group said it was now trading against challenging comparatives for the remainder of the financial year, but was confident that its current earnings expectations for the year ending January 2016 would be met.
JD Sports operates over 800 stores in the UK and Europe.
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