JD Sports Fashion Plc AGM Trading Statement (4900J)
June 29 2017 - 1:00AM
UK Regulatory
TIDMJD.
RNS Number : 4900J
JD Sports Fashion Plc
29 June 2017
29 June 2017
JD Sports Fashion Plc
AGM Trading Update
Peter Cowgill, the Executive Chairman of JD Sports Fashion Plc
(the "Group"), the leading retailer of sports, fashion and outdoor
brands, will make the following trading statement to shareholders
attending its AGM today:
"Since we reported our results for the last financial year, we
have moved into a further period of year on year calendar
differences, notably Eid, which has also led us to adjust the
timing of our clearance period. Therefore, we do not believe our
like for like store sales comparatives will be truly meaningful
until the end of the first half, by which point the impact of the
aforementioned timing differences and the strong comparatives from
the performance through last year's Euros tournament will all have
fully unwound. Nevertheless, we are pleased to confirm that growth
to date in Group like for like store sales and further significant
growth in the Group's online sales have been in line with our
expectations.
"We continue to expand the JD store estate across the UK and
overseas with a net increase of 28 stores (88,000 sqft) in the
period to 24 June 2017. Notable new openings have included our
first two JD stores in Australia and a further two stores in
Malaysia.
"Whilst we have faced some anticipated margin pressure in
achieving the sales growth, the Board considers that the Group is
currently on track to deliver a result for the full year in line
with market expectations. We also believe that our highly
differentiated multibrand offer, combined with an attractive and
dynamic presentation instore and online, gives the Group continuing
competitive advantage."
The Group will announce Interim Results for the period to 29
July 2017 on 12 September 2017.
Enquiries:
JD Sports Fashion Plc Tel: 0161 767 1000
Peter Cowgill, Executive Chairman
Brian Small, Chief Financial Officer
MHP Communications Tel: 0203 128 8100
Andrew Jaques
Barnaby Fry
Gina Bell
This information is provided by RNS
The company news service from the London Stock Exchange
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