Fashion group JD Sports reported that like-for-likes have risen since the end of August but expressed caution about Christmas trading.

The retailer said that cumulative year-to-date sales to November 13 had “marginally increased” since it reported a 2.8% like-for-like rise for the four weeks to August 28. Margins have been maintained in the latest period.

Despite the improvement JD said: “We are inevitably cautious about maintaining such positive like-for-like performance during Christmas against a backdrop of successive uplifts in previous years.”

Numis analyst Andy Wade said JD remains a “consistently strong performer” and its acquisitions of young fashion brands such as Sonneti and Chilli Pepper will help support the retailer’s progress through differentiation.

Singer analyst Matthew McEachran said: “We continue to believe that JD is an extremely well-managed business with significant growth opportunities.”

He said there is an “opportunity” to improve the Bank chain’s operating margin and thought there would be more strategic acquisition opportunities in the next few years.