JD Sports has reported that like-for-like growth at its stores are “in line with our expectations”.
However, the retailer did not provide a number. Executive chairman Peter Cowgill said that JD Sports had “faced some anticipated margin pressure in achieving the sales growth” but full-year results were expected to be in line with expecations.
He said that “year on year calendar differences” including the timing of the Eid festival, meant it difficult to make comparisons.
He said: “We do not believe our like-for-like store sales comparatives will be truly meaningful until the end of the first half, by which point the impact of the timing differences and the strong comparatives from the performance through last year’s Euros tournament will all have fully unwound.
“Nevertheless, we are pleased to confirm that growth to date in group like-for-like store sales and further significant growth in the group’s online sales have been in line with our expectations.”
Cowgill added: “Whilst we have faced some anticipated margin pressure in achieving the sales growth, the board considers that the group is currently on track to deliver a result for the full year in line with market expectations.
“We also believe that our highly differentiated multibrand offer, combined with an attractive and dynamic presentation in store and online, gives the group continuing competitive advantage.”
JD will post interim results on September 12.