Home / Knowledge / News / Apparel/Garments / JD Sports' UK & Ireland like-for-like sales rise 1.1%

JD Sports' UK & Ireland like-for-like sales rise 1.1%

19
Sep '12
JD Sports Fashion Plc, the leading retailer and distributor of branded sportswear, fashionwear and outdoor clothing and equipment, announces it’s Interim Results for the 26 weeks ended 28 July 2012.

Highlights

  • Continued robust performance in core Sports fascias with gross margin ahead of expectations
  • As anticipated, initial loss of £10.0 million in Blacks business from critical lack of stock and unsustainable cost base following acquisition from administration with vast majority of the loss incurred in the first three months
  • The further reduction in operating profit has arisen principally from the phasing of earnings streams from new acquisitions and acquisitions made in the prior year together with duplicate and excess warehouse operating costs incurred in the transition to the centralised Kingsway warehouse which is now fully operational
  • Blacks stabilising with stores fully restocked and central cost reorganisation programme ongoing
  • European development of JD continues with 7 stores now open in France and 3 stores opened in the period in Spain
  • Acquisitions of Tessuti and Originals in the period increase critical mass in Premium Male Fashion sector
  • Like for like sales for the 26 week period in the UK and Ireland combined core retail segments increased by 1.1%:

Peter Cowgill, Executive Chairman, said: "I stated in April that the recent expansion activity in the Group, the relocation of distribution facilities and the resolution of the stock and property issues in the Blacks business would impact results in the short term. As expected, this has proven to be the case but it does provide the Group with a very positive platform for future development.

"I am pleased to report that our primary JD fascia remains robust and we have increased our overseas presence with the intention of producing long term value for shareholders. The robust trading in the Sports Fascias has continued since the period end although trading in the Fashion Fascias has been more difficult. Our Outdoor business continues to stabilise and aims to break even in the second half before any restructuring charges.

"As ever, the Group result for the full year remains very dependent on the sales and margin performance in December and January. Notwithstanding the economic pressure on margin and the general increase in taxation and other levies across Europe, the Board believes that the Group is well positioned to deliver results that are within the range of current expectations."

Established in 1981 with a single store in Bury, in the North West of England, JD Sports Fashion Plc is the leading retailer and distributor of branded sportswear and fashionwear.

JD Sports


Must ReadView All

Pic: Shutterstock

Textiles | On 12th Jun 2021

G20 GDP returns to pre-pandemic level in Q1 2021: OECD

Gross domestic product (GDP) of the Group of 20 (G20) area returned...

Pic: Stock for you / Shutterstock.com

Apparel/Garments | On 12th Jun 2021

Prime Content| Japan's clothing imports fall 13.2% in 2020-21

Japan’s imports of clothing and accessories declined by 13.2 per cent ...

Pic: Shutterstock

Textiles | On 12th Jun 2021

Setting right targets for issues key to building biodiversity strategy

Setting the right targets for issues in play in locations, i.e.,...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

Textile Industry, Head honchos

Textile Industry
Head honchos

Strike a balance between handmade in India and 'Make in India'

Textile Industry, Head honchos

Textile Industry
Head honchos

Fashion tech has to be lean and very productive

Kurt Wedgwood,

Kurt Wedgwood

From design to raw material to fabrication and ultimately to delivery -...

Nantas Montonati,

Nantas Montonati

The Riri Group is a one-stop supplier of metal accessories for the luxury...

Chini Chouhan,

Chini Chouhan

Founded by Chini Chouhan, her eponymous brand specialises in women's...

Daniel Roxbury, University of Rhode Island

Daniel Roxbury
University of Rhode Island

Assistant professor Daniel Roxbury and former URI graduate student...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

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


June 2021

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


Advanced Search