UK: JD Sports sales decline “expected”
Like-for-like sales at retail group JD Sports are down 2.8% on the year to date, but the company insists that trading remains in line with management expectations.
The UK retailer said the figures for the period from the end of January to 6 June were “harder to interpret” because of the impact of the run-up to the football World Cup a year ago.
Like-for-like sales were down 3% at sports outlets and 1.6% at fashion stores, it added, with margin deterioration within the range of its expectations.
The news follows JD Sports’ April announcement of a 0.4% rise in like-for-like sales for the eight weeks to 26 March.
“Our cautious outlook at the time of that announcement remains unchanged and continues to be based on the very clear downward pressures on levels of gross consumer expenditure in our market and the increased VAT take from such expenditure,” the company said.
It expects to release its next rading update on 21 September.
Retailer JD Sports Fashion is maintaining its guidance for the full year despite seeing a recent sales downturn - but the company warned that the Christmas trading period would be crucial to its fortu...
JD Sports says it lost some GBP700,000 (US$1m) in stock during the UK riots last month, but does not think the unrest will impact its full-year results....
- TPP tariff phase-out guides Vietnam sourcing plans
- Why fast fashion isn't a case of one size fits all
- How Central America garment sourcing measures up
- How virtual garments could shape fashion retail
- Where next for Walmart's 3D apparel design pilot?
- Ethiopia opens flagship textile and apparel park
- VF confident on "solid" sustainability roadmap
- Inditex and Lenzing sign textile waste pact
- VF Corp cuts guidance as Q2 profit plunges 70%
- EU and US dispute China raw materials duties
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- World Textile and Apparel Trade and Production Trends: the EU - June 2016
- Luxury Goods Retailing in Europe, 2014-2019 ; Market & Category Expenditure and Forecasts, Trends, and Competitive Landscape
- Primark Stores Limited: Retailing - Company Profile & SWOT Analysis