LONDON (dpa-AFX) - JD Sports Fashion Plc (JD.L) Friday said its board believes that the Group remains on course to deliver headline profit before tax and exceptional items in line with current market view.
Peter Cowgill, executive chairman of the company said, 'I am delighted that the most recent six weeks' trading has continued to give confidence for the future. I also expect considerable further progress elsewhere in the Group in 2014.'
In an update on its performance following the Christmas trading period, the retailer and distributor of branded sportswear, fashionwear and outdoor clothing, footwear and equipment, noted that its performance in Sports Fascias was good and remains focussed on improving the performance of other Fascias within the Group.
Citing the stronger trading in the Christmas period in the Sports Fascias, the firm said like-for-like sales for the Group's core Fascia stores at the end of the 48 week period ended January 4, came marginally ahead of earlier forecast, while maintaining its underlying product gross margins.
'Christmas 2013 has seen yet another very robust performance from our core Sports Fascias. Throughout recent years of considerable change and expansion for the Group, the core Sports Fascias' proposition has continued to be developed and enhanced,' said Cowgill.
In last November, the company said like-for-like sales in the core UK and Ireland Sports and Fashion Fascias for the forty two weeks to November 23, 2013 stood cumulatively at very much the same level as they had after 26 weeks at the half year when they had stood at +5.8 percent.
For its first half, the company had reported pre-tax profit of 6.09 million pounds, and adjusted earnings per ordinary share before exceptional items of 15.79 pence. Revenue rose to 567.37 million pounds from 555.99 million pounds a year ago.
JD Sports is scheduled to announce its preliminary results for the 52 weeks ending February 1, 2014, on April 15.
JD.L closed Thursday's regular trading at 1,594 pence on the LSE.
Copyright RTT News/dpa-AFX