VIENNA (dpa-AFX) - JD Sports Fashion Plc (JD.L) stated that after factoring in the significant level of losses in Outdoor, which the Board does not expect to recur, the group's year end results are likely to be towards the lower end of current market expectations for headline profit before tax and exceptional items which is currently 60 million pounds.
The performance in the Outdoor Fascias has been disappointing in the Christmas period. The Group said this was the result of the proposition bought into by the previous management team.
The core Fashion Fascias (Bank and Scotts) saw like for like sales in the same seven week period decline by 7.9%.
JD Sports Fashion reported another record Christmas trading period for its core UK and Ireland Sports Fascias in which like for like sales for the seven week period ended 5 January were up 3.2%. After 49 weeks cumulative like for like sales for these fascias are up 2.4%.
The Group expects headline earnings of the Sports Fascias to marginally exceed those of last year even after the costs of consolidating warehousing in Rochdale. The Group said the prospects for profitable development of both core UK and Ireland and international Sports Fascias remain very positive.
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