JD Sports Fashion put in another strong performance today after sales at the sportswear retailer accelerated in the eight weeks to the end of May.
Cementing its edge over rivals JJB Sports and Sports World, the group said like-for-like sales were now at 1.7 per cent growth in the financial year to date, compared with the 0.3 per cent sales growth recorded in the nine weeks ending April 4.
However, the retailer’s figures are still under the 3.9 per cent growth achieved in the year ending January 31,
JD warned that exchange rate pressures would make maintaining its margins “increasingly challenging” later in the year. It said it was confident that internal forecasts for the year to February would be met.
In April, the firm announced a 9 per cent rise in annual pre-tax profits to £38.2 million, marking the “fifth successive year of good progress”.
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JD Sports, which was founded in 1981 with one shop in Bury, has 400 outlets in the UK and Ireland covering both sports and branded fashion. It recently made its first move overseas with the acquisition of Lille-based Chausport, a sports footwear retailer with 78 stores.
The company has fared much better than its rivals in recent times, helped by its strong offering through fashion brands Scotts and Bank and its limited exposure to replica football kit sales, for which demand has fallen.
JD said today that while like-for-like sales in sports stores were up 1.2 per cent, the figure for its fashion stores showed growth of 4.6 per cent. Matthew McEachran, a retail analyst at Singer, said: “The weather over the period has probably given a slight boost to trade, with the performance across April and Easter outperforming May.”
He added that JD should be boosted by next year’s World Cup in South Africa, although not to the same degree as Sports Direct or JJB Sports.