Sporting goods and clothing retailer JD Sports Fashion saw like-for-like (LFL) sales grow 1.5 per cent as sales of sportswear boosted performance, it has been announced today.
In the 16 weeks to November 17th 2012, LFL sales across sports stores jumped 3.5 per cent on the same period last year while fashion store LFLs plummeted 6.6 per cent as its Bank fascia failed to improve trading.
While the group acknowledged that “the trading environment in our markets remains tough and particularly so for the fashion fascias”, it remains hopeful of building profitability through its acquisition of failed retailer Blacks earlier this year.
Ken Reeve, former Buying and Merchandising Director at Cotswold Outdoor, joined Blacks as Managing Director earlier this month as the group commenced investment into its stores and, while an update on the retailer’s long-term strategy is expected in JD Sports Fashion’s post-Christmas trading update, “early signs are encouraging”, the group conceded.
Looking ahead, a statement from the retailer said: “The result for the full year remains, as usual, substantially dependent on the performance through the Christmas period and particularly in the last two weeks of December.
“At this stage the Board believes the Group remains on course to deliver earnings in line with current expectations.”