Core JD Sports stores sparkle as Blacks turnaround continues
RETAILER JD Sports Fashion says recent trading has been in line with expectations, with divisional performance following a familiar pattern.
The Bury-based group, which owns JD Sports, fashion-focused shop fascias Bank and Scotts and most recently outdoor brands Blacks and Milletts, reported a very strong performance by its core JD Sports stores with like-for-like sales surging 7% in the 18 weeks to June 8.
In the fashion stores, which have seen sales fall over the last 12 months, the trend continued with a like-for-like decline of 5% in the same timeframe.
The group said most of the issues in the fashion business are in the Bank fascia, where a new head of ladieswear has joined and will make an impact later in the year.
In the loss-making outdoor division, which JD rescued in a pre-pack deal in early 2012, the company said it had seen sales picking up, but margins had suffered.
JD said: “The development of profitability in these fascias remains a work in progress.., We expect the outdoor fascias to make a substantial but
significantly-reduced loss in the current year with the biggest improvement coming in the second half.”
Finally, JD, which will publish its half-year figures on September 18, said the results for its distribution division in the first half would be impacted by the disposal of Canterbury and the knock on impact of rival JJB’s disappearance from the market.
