JD Sports Fashion shares lifted by sales growth
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The price of shares in retailer JD Sports Fashion (LON:JD.) rose by 8.15% to 428.50p (as of 10:50 GMT) after it reported total sales growth under its sports brands of around 15% for the 48 weeks to 5th January, after good Christmas and Black Friday trading. Gross margins have stayed at the same level as last year as the company resisted the urge to discount in the face of the well publicised conditions on the UK high street.
Executive chairman Peter Cowgill commented: “I am pleased with the continued progress of the Group both in terms of our performance in existing markets and the recent positive developments in the United States. We are confident that domestically and internationally, in stores and online, our unique and often exclusive sports fashion premium brand offer provides a solid foundation for future development.
“On behalf of the Board, I would like to thank all our colleagues for their significant contribution in delivering another excellent performance“.
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