JD profits to exceed market expectations

JD Sports has said profits will significantly exceed market expectations after reporting an increase in sales during Christmas.

The group’s like-for-like sales for the five-week Christmas trading period ending January 2 were up 6.6 per cent.

Sales at the company’s JD and Size fascias were up 5.9 per cent, while fashion fascias Bank and Scotts enjoyed a 9.7 per cent rise.

The group’s cumulative like-for-like sales for the 48 weeks to January 2 were up 2.7 per cent, and gross profit margins for the period have improved marginally.

“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 fascia and the strong performance of the Bank fashion fascia,” says Peter Cowgill, executive chairman of JD Sports.

“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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