In the year to February 2, revenues rose 11.6 per cent to£592 million. Like-for-like sales for the year were up 11.1 per cent. Current trading has continued to be strong for JD, up 4 per cent in the 10 weeks to April 12.
JD executive chairman Peter Cowgill said that, despite a good set of results, the board would remain cautious on future growth. “The group’s recent strong performance with regards to like-for-like sales and gross margins means that further improvement in these areas is becoming more challenging. The current economic climate and outlook dictates a note of prudence.”
In 2007, JD bought Bank Fashion for£18.6 million. The acquisition has so far added£434,000 to its operating profit.
During the period, JD closed 36 underperforming stores and now operates 345 outlets across the country.