UK: JD Sports "encouraged" by performance
JD Sports Fashion has said that the performance of its stores remain encouraging despite the increased competition in the sector.
The company said that like-for-like sales for the 32 weeks to 12 September 2009 were up 0.5% for its sports fascias and 2% for its fashion fascias.
It added that trading for the 11 weeks since that date has marginally improved the cumulative rates in both sets of fascias.
In a statement, the company said: "The overall performance of the group's core retail fascias remains encouraging, particularly in the light of strengthening in the sports fascias' competition, subsequent to recent fundraising.
"The early signs from recent acquisitions remain encouraging too. Margins in the second half have been in line with expectations and so the board remains confident about the group's prospects for the remainder of the current financial year."
The group will issue its post Christmas trading update on 7 January 2010.
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