Business news : JD Sport sales up 7%

Sporting goods retailer JD Sports released an interim management report stating that sales in its main outdoor fascias over the 18 weeks ended June 8 were up 7%, in line with market expectations. Whilst the outdoor division has recorded positive like for like sales, this has been achieved at a significant margin sacrifice and the development of profitability in these fascias remains a work in progress.

Figures for its fashion fascias were much less rosy, with a reported sales decline of 5%. This fall in sales in the fashion division of the company is concentrated in the brand Bank where the benefit of the new head of womenswear is not expected to be seen until later in the year. Accordingly, the performance recorded in the year to date will lead to an increased loss being reported for these Fascias in the first half.

Lauren Walker with Reuters

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