JD Sports ‘confident’ after strong Christmas sales growth

Sports fashion retailer JD Sports has reported a total sales growth of 15% for the 48-week period to 5 January 2019.

Total like-for-like sales growth during the period also increased by 5%, which included a consistently positive like-for-like performance across Black Friday and the Christmas period.

According to the group, gross profit margins have been “maintained at prior year levels”, as it continues with its policy not to enter into short-term reactive discounting “unnecessarily”, and added that, given the “well-publicised challenges within the wider UK retail market”, it is pleased with the trading results.

The retailer said it is “confident” that its headline group profit before tax for the year ending 2 February 2019 will be at the “upper end of published market expectations”, which currently range from £325m to £352m.

Peter Cowgill, executive chairman, said: “I am pleased with the continued progress of the group both in terms of our performance in existing markets and the recent positive developments in the United States.

“We are confident that domestically and internationally, in stores and online, our unique and often exclusive sports fashion premium brand offer provides a solid foundation for future development.”