JD Sports profits to exceed expectations
The Board now believes that current market expectations for Group profit before tax and exceptional items will be significantly exceeded.
Group like for like sales for the five week Christmas trading period ended 2 January 2010 were up by 6.6 per cent with the Sports Fascias (JD and Size) up by 5.9 per cent and the Fashion Fascias (Bank and Scotts) up by 9.7 per cent.
The Group's cumulative like for like sales for the 48 week period to 2 January 2010 were up 2.7 per cent (Sports Fascias up 2.3 per cent and Fashion Fascias up 4.5 per cent), with UK retail gross profit margins having improved marginally over the full period compared to the previous year.
Peter Cowgill, Executive Chairman, commented: "The Christmas trading period has again been a good one for the Group and I am particularly pleased with both the sustained progress in the Sports Fascias and the strong performance of the Bank Fashion Fascia. This has been the result of our strong product proposition and a lot of hard work from employees throughout the business."
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