JD Sports has reported an increase in like-for-like sales despite a significant drop-off in trade at its fashion division.
The retailer posted a 1.5% uplift in like-for-likes across its sports and fashion divisions in the 16 weeks to November 17. However, this reflected a 3.5% uplift at the sports stores and a 6.6% slip at its fashion stores, as trading at its Bank and Scotts fascias remained difficult.
In the first half, group likes-for-likes rose 1.1%, driven by a 1.2% uplift at sports stores and a 0.7% increase at the fashion fascias in the 26 weeks to July 28.
The retailer said: “The trading environment in our markets remains tough and particularly so for the fashion fascias.
“We have commenced investment into the Blacks stores and early signs are encouraging for the future.”
It added that the company’s full-year performance is “substantially dependent” on Christmas trading but it is “on course” to deliver to full-year expectations.
The retailer will issue a post-Christmas trading update on January 10.
Investec analyst Bethany Hocking said: “Management discussed the challenges at Bank and Scotts in the last results meeting, with these formats competing in a highly value-orientated market. We would expect that management are taking actions to address performance in this division.”
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