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Profits surge at JD Sports
JD Sports has reported pre-tax profit up 20.6% to £20.1m in the 26 weeks to July 30 despite being hit by the August riots when £700,000 worth of goods was looted from 16 stores.
Total sales at the retailer’s sports fascias were up 9% in the period to £322.7m, although like-for-like sales in the core UK and Ireland business were down 1.6%. That was an improvement however on the last update in June, when like-for-likes were down 3%. Operating profits at sports fascias fell from £21.6m to £20.2m, and operating profit at JD edged down by £1.5m to £20.5m.
Total sales at JD’s fashion fascias rose by 16.3% to £59.5m, including £1.2m from the Cecil Gee stores. Like-for-like sales were up by 3% - Bank was ahead 5.9% and Scotts down 4.5%.
The retailer said trading since the period end has continued to improve, with gross like-for-like sales for the UK and Ireland retail fascias in the seven weeks to September 17 up by 3.3%.
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