Home / Knowledge / News / Apparel/Garments / JD Sports anticipates tough Christmas trading period

JD Sports anticipates tough Christmas trading period

26
Nov '11
JD Sports Fashion Plc the leading retailer and distributor of sport and athletic inspired fashion apparel, footwear and young fashion, releases the following Interim Management Statement for the period to 19 November 2011.

In the announcement of the Group's interim results for the 26 week period to 30 July 2011 the Group reported an improvement in trading in the seven weeks to 17 September 2011 with gross like for like sales growth of 3.3% (Sports Fascias +2.5%; Fashion Fascias +7.4%) and net growth of 1.6% (Sports Fascias +1.0%; Fashion Fascias +5.0%).

Since then, gross like for like sales growth for the second half has declined to a cumulative level of +0.2% (Sports Fascias -0.1%; Fashion Fascias +1.3%) for the sixteen weeks ended 19 November 2011, with a net decline of 1.5% after taking into account the impact of the increase in VAT to 20% (Sports Fascias -1.6%; Fashion Fascias -0.9%).

Performance since 17 September has been impacted by the continuing downward pressures on all elements of discretionary consumer spending and the recent marked decline in consumer confidence. Despite experiencing adverse pressure on margins because of the trading environment, we continue to work hard to maintain them. Although we anticipate a tough Christmas trading period, our management and staff have a good track record for mobilising effectively through this key time of the year.

In our non-UK retail businesses, we have now successfully opened a further two JD stores in France (being the conversion of an existing Chausport store in Amiens and, more recently, a new store in Marseille). We are encouraged by the potential for the Sprinter business in Spain since acquisition and we expect to open our first JD stores in Spain in the first half of 2012.

The performance of Champion is still being affected by the particularly difficult economic environment in the Republic of Ireland but opportunities for future improvement exist with the right execution.

Elsewhere in the Group, Canterbury has performed well in New Zealand and Australia assisted by the Rugby World Cup. However, the performance of the rest of the global Canterbury business has been mixed, and we continue to appraise the best means of realizing the full potential of this leading global brand.

The result for the full year remains, as usual, substantially dependant on the performance through the Christmas period. However, at this stage the Board believes the Group remains on course to deliver earnings in line with current expectations.

The Group will issue its post Christmas trading update on 12 January 2012.

JD Sports Fashion Plc


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 24th Feb 2020

Myanmar's garment units risk closure due to virus impact

Myanmar's garment factories are facing the risk of shutdown as the...

Pic: Shutterstock

Apparel/Garments | On 24th Feb 2020

GMAC urges EU to restore full EBA rights for Cambodia

Expressing disappointment over the recent European Union (EU)...

Pic: Shutterstock

Apparel/Garments | On 24th Feb 2020

Uzbekistan 3rd biggest garment exporter to Kazakhstan

Uzbekistan exported 10,000 tonnes of apparel to Kazakhstan in 2019,...

Interviews View All

Office bearers, Textile industry

Office bearers
Textile industry

There might be negative impact on garment exports

Amit Jain, Shingora Textiles Ltd

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Marazban F Velati, Sutlej Textiles & Industries limited

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Riddhi Jain,

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Carolin Russ,

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Roz Guarnori,

Roz Guarnori

FESPA Global Print Expo 2019, to be held in Munich from May 14-17, is...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Karl Zelik, Vanderbilt University

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search