Overseas expansion driving growth for leisurewear group

Bury-based JD Sports Fashion will tell shareholders today that last year’s record performance has continued into the current trading period.

At its annual general meeting today, Peter Cowgill, executive chairman of the sports, fashion and outdoor brands retailer, will update stakeholders on current trading.

In a statement he will say: “On 16 April 2019, the group announced results for the year ended 2 February 2019 which represented a further record performance for the group.

“We are now pleased to report that in the year to date we have continued to achieve encouraging like-for-like sales growth in our core sports fashion fascias both in the UK and internationally.

“There has been further expansion in the global JD store estate with a net increase of 29 new stores (109,000 sqft) in the period to 29 June 2019.

“As expected, the emphasis has been on international development with a net 18 new stores to date across Europe (including the conversion of six former Chausport stores in France) and a net five new stores in the Asia Pacific region with additional stores in both Malaysia and Australia.

“We have now opened our sixth JD store in the United States after the conversion of the former Finish Line store at the Mall of America in Bloomington, Minnesota.

“These JD stores are also now complemented by a trading website which was launched in May. We remain encouraged by the developments in this market to date.

“The board remains confident that the group continues to be on track to deliver headline profit before tax for the full year at least equal to current consensus market expectations.”

The group will announce interim results for the period to 3 August 2019, on 10 September 2019.