JD Sports Fashion Plc (the "Group"), the leading retailer and distributor of sport inspired fashion apparel, footwear and young fashion, releases the following Interim Management Statement for the period from 31 January to 5 June 2010.
In the Preliminary Announcement of the Group's results for the 52 week period ended 30 January 2010, issued on 14 April 2010, the Group reported UK and Ireland like for like retail sales growth of 2.0% (Sports Fascias 3.0%; Fashion Fascias -3.5%) for the 10 weeks ended 10 April 2010.
We are pleased to report that, after a further 8 weeks of trading to 5 June 2010, cumulative UK and Ireland like for like retail sales growth has improved to 4.1% (Sports Fascias 5.1%; Fashion Fascias -1.2%). The Sports Fascias performance continues to be satisfactory and has been positively influenced in recent weeks by the upcoming World Cup.
It is also pleasing to confirm that the trend of performance in both Fashion Fascias has been positive over the last eight weeks resulting in Bank now showing 0.3% like for like growth over the eighteen week period to 5 June 2010 and Scotts showing a reduced decline of 4.4%. Margins achieved have continued to be encouraging, with particularly satisfactory progress in the Fashion Fascias.
Chausport's good start to the year has continued and the Board remains satisfied with the foundations being built for future profit growth in other recently acquired businesses.
The Group will provide its next trading update with the Interim Results Announcement on 21 September 2010.
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