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JD Sports Fashion sees sales improve

Like-for-like sales at JD Sports Fashion rose 1.7% for the eight weeks to May 30, with the group’s fashion division leading the increase.

Like-for-like sales at the Bank and Scotts chains were up 4.6% over the period, while like-for-likes at the JD sportswear fascia rose 1.2%.

JD Sports Fashion’s like-for-like increase is an improvement on the 0.3% increase the retailer reported for the nine weeks to April 4.

However JD Sports Fashion warned that maintaining gross margin would prove challenging going forward, partly because the weak sterling has affected the cost of buying in product for retailers.

A statement from JD Sports Fashion said: “While hitherto satisfactory, maintaining gross margin comparative with the previous year may prove increasingly challenging later in the year, particularly having regard for exchange rate pressures. However, the board remains encouraged by the progress made so far this year towards achieving results in line with management expectations.”

Last month, JD Sports Fashion bought French footwear business Chausport for €8 million (£7.02m). The group said this represented a good opportunity to enter a new European market.

The group will report its interim results on September 22.




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