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JD Sports Fashion says trading better

Source: Reuters - Tue 1st Dec 2009

Sportswear and fashion retailer JD Sports Fashion said its trading has improved over the last 11 weeks and it is confident on prospects for the balance of the year. The firm last updated the market on September 22 when it reported like-for-like sales up 0.5 percent for its sports fascias and up 2.0 percent for its fashion fascias for the 32 weeks to September 12.

"Trading for the 11 weeks since that date has marginally improved the cumulative rates in both sets of fascias" the firm said on Tuesday.

The retailer said margins in its second-half have been in line with expectations "so the board remains confident about the group's prospects for the remainder of the current financial year."

Shares in JD Sports, which have more than doubled over the past year, closed on Monday at 498 pence, valuing the business at 242 million pounds.

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