JD Sports posts third-quarter like-for-like sales rise

The retailer revealed that like-for-likes across both fascias were “very much the same level” as the 5.8% it posted in its first half, the 26 weeks to August 3, reported in September.

JD said in its interim management statement: “We are pleased to report that after a further sixteen weeks’ trading, the like-for-like sales improvement for these [sport and fashion] fascias stands cumulatively at very much the same level. We are also pleased with very recent progress in the outdoor fascias.

“The result for the full year remains, as usual, substantially dependent on the sales and margin 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 at least in line with current expectations.”

Investec analyst Kate Calvert said: “The core division continues to trade well with the outdoor division starting to make progress benefiting from the integration of head office and the more seasonal weather. This does imply that fashion continues to experience negative like-for-like sales.

“Fashion first-half like-for-like sales were down 2.2%. It is too early for the new Bank management to have an impact and we suspect Scotts’ performance is still fine.”

Earlier this month, JD took a controlling stake in outdoor retailer Tiso and acquired sports etailer ActivInstinct.