Sports retailer JD Sports continues to out-perform its rivals, posting healthy sales growth over the Christmas in a trading statement today.
In the five weeks to January 1st 2011 total group sales excluding Fashion brand Chausport rose 2.5 per cent year-on-year, whilst cumulative like-for-like (LFL) sales across the group increased 3.1 per cent during the 48 weeks to the end of the year.
The retailer’s management team now expects to beat the current profit before tax market predictions for the full financial year.
Peter Cowgill, Executive Chairman of JD Sports, commented: “The Christmas trading performance from the group’s main retail fascias has again been pleasing and in excess of our expectations.
“I am particularly grateful to all our staff who by their endeavour and commitment ensured that we were largely unaffected over the full five-week period by the difficult weather conditions experienced in December.”
JD Sports’ strong performance compares favourably against its competitors, with JJB Sports struggling to meet its credit facility obligations due to poor December trading which led to several board member changes.
Retail gross profit margins at JD Sports were maintained during the last five weeks but its board has acknowledged that 2011 will place additional pressures on the industry.
Cowgill added: “This performance is the result of our strong product and brand proposition presented in inviting retail settings. Nevertheless the trading environment facing all retailers, and perhaps clothing retailers in particular, will provide additional challenges in the year to come.”