18th Jan 2005 07:30
John David Group (The) PLC18 January 2005 18 January 2005 THE JOHN DAVID GROUP PLC TRADING STATEMENT Since The John David Group PLC (the 'Group') reported its interim results on 14October 2004 trading has continued to be encouraging in the core Sportsbusiness, the performance of which has benefited in the second half from therationalisation of underperforming stores undertaken to date and weak prior yearcomparatives. The sales and margin comments set out below exclude any figures for RD ScottLimited ('Scotts') which was only acquired on 15 December 2004 and has performedin line with our expectations to date: •Group total sales were 4% higher than prior year in the eight week period ended 1 January 2005. •Group like for like sales increased 6% in the same eight week period with the core Sports business performing marginally better than this. Whilst underlying gross margin also improved in the Christmas trading period,the more aggressive elimination of underperforming stock, particularly in theFashion business, has continued throughout the period since the interim results,with a corresponding impact on current year margin. The store closure programme has continued to date as planned and can be seen tobe benefiting performance but will generate a further exceptional charge at theyear end. Peter Cowgill, Executive Chairman, commented: " The Christmas trading period hasproven that our consumer offer and our strategy are stimulating a continuedrecovery in the Group's performance." Enquiries: The John David Group PLC Tel 0161 767 1608/1000Peter Cowgill (Executive Chairman) Mob 07876 680373Barry Bown (Chief Executive)Brian Small (Finance Director) Hogarth Partnership Limited Tel 0207 357 9477Andrew JaquesBarnaby Fry This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
JD Sports