JD Sports Fashion to launch new brand aimed at sports enthusiasts
JD Sports Fashion has opened a new sports-led store called JD Pro with a plan to roll the new brand out across the UK if it proves successful.
The new venture opened its first store in Bow Lane, London this week, with another opening scheduled for the spring in Chelmsford, and is seen as an attempt to fill the gap in the high street left by JJB Sports, which went into administration in October.The stores will sell clothing and equipment and are aimed at sports enthusiasts, with brands including North Face, Asics and Wilson.
The group has hired experienced athletes to staff the stores, which will cover sports including athletics, outdoor pursuits, football, rugby, cricket and hockey.
In an interim management statement, JD reported like sales in its core UK sports and fashion business grew 1.5 per cent in the quarter to November 17.
But it said the trading environment remained tough, particularly so for the fashion stores, which saw sales fall by 6.6 per cent.
The Bury-based group's sports stores grew sales by 3.5 per cent.
A statement said: The result for the full year remains, as usual, substantially dependent on the performance through the Christmas period and particularly in the last two weeks of December.
"At this stage the Board believes the Group remains on course to deliver earnings in line with current expectations."
In other news, Ken Reeve has now taken his post as managing director of Blacks, having joined from Cotswold Outdoor, where he was buying and merchandising director.
JD said it expected to provide an update on the business strategy and outlook for Blacks, which it bought out of administration for £20m in January, in the post Christmas trading update.
It said it had already begun to invest in improving the Blacks stores and early signs are encouraging for the future.
JD shares were up 9p, or 1.27 per cent, at 719p on the news.
( Source Manchester Evening News through www.feeddoo.com )
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