JD Sports maintains momentum

JD Sports Fashion says it has maintained the excellent momentum from the first half of the year.

In the announcement of the group's interim results on 13 September, it reported that the 26 week period to 30 July had been another period of excellent progress, with like for like store sales growth in the period across all Group fascias, including those in Europe, of approximately 10%.

An update today says: "We are pleased to report that this positive trading has continued through the second half of the year with the cumulative like for like store sales growth for the 49 weeks to 7 January 2017 across all Group fascias maintained at this level. This is a particularly pleasing performance given the very strong like for like growth achieved in the previous three years.

"Notwithstanding the requirement for ongoing investment in the operational infrastructure to support an increasingly complex and international Group, the Board expects that the headline profit before tax and exceptional items for the current financial year will exceed current consensus market expectations of £200m by up to 15%."

Executive chairman Peter Cowgill said: "I am delighted to report that we have maintained our excellent momentum from the first half of the year. Whilst we acknowledge that it would be unreasonable to expect like for like sales growth to be maintained at recent levels for a fifth consecutive year, we are confident that both domestically and internationally, our unique and often exclusive sports fashion premium brand offer provides a solid foundation for future development."