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....
- Supply chain takeaways from Sourcing at MAGIC
- Cotton supply chain transparency an ongoing issue
- Why voters don’t want more global supply chains
- No simple way to be sustainable, says SAC CEO
- Denim and athleisure top picks for back-to-school
- H&M takes action over Myanmar child labour breach
- Vietnam garment industry calls for strategy update
- Zara USA faces US$5m deceptive pricing lawsuit
- Li & Fung eyes supply chain speed in 3-year plan
- EU clothing imports from China continue to plunge
- Too Many Standards
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Under Armour, Inc. (UA) - Financial and Strategic SWOT Analysis Review
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras