THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
JD Sports sales up 3.2% although Blacks trading disappointing

Sportswear retailer JD Sports said its like-for-like sales rose by 3.2% in the seven weeks to 5 January although the performance of its recently acquired Blacks and Milletts stores had been “disappointing”.

GENERAL MERCHANDISE

JD Sports sales up 3.2% although Blacks trading disappointing

Sportswear retailer JD Sports said its like-for-like sales rose by 3.2% in the seven weeks to 5 January although the performance of its recently acquired Blacks and Milletts stores had been “disappointing”.

In a trading statement, the group said trading at the JD Sports fascias had been robust throughout the Christmas period, with margin for the year-to-date improving to close to the prior year's level. 

The group's fashion fascias Banks and Scotts, which represent a relatively small share of group sales, saw like-for-like sales in the seven week period decline by 7.9%. JD said that Bank will now only break even in the year and that management was now “very focused” on improving the business’s performance.

JD said that the rationalisation of outdoor fascias Blacks and Millets, which were acquired out of administration 12 months ago, was now firmly underway. However, sales had been disappointing during the festive season.  "This was the result of the proposition bought into by the previous management team. All the key players in that team have been replaced very recently," JD added.

After factoring in the significant level of losses at Blacks and Millets, JD said that the group's year end results were likely to be towards the lower end of current market expectations for headline profit before tax and exceptional items which is currently £60 million.

Peter Cowgill, executive chairman, commented: "Christmas 2012 has seen another very robust performance from our core Sports Fascias. Both international development in the Sports Fascias and multi-channel development throughout the Group represent significant continuing growth opportunities. In addition, whilst the performance of Outdoor has been disappointing, we remain confident that this business will produce future returns. 

"As evidenced by results throughout recent years of considerable change, the core of our retail group remains very strong. Trading in recent weeks has been the strongest we have seen for some time."

 


 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
AI in Retail Conference 2019
AI in Retail Conference 2019
18 September 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019