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Sales up as JD Sports expands internationally

Total sales were up 15% at JD Sports for the 48 weeks period to 5 January 2019, compared with the year before.

Like-for-like sales – which exclude the recent acquisitions of Finish Line in the US and Sport Zone in Iberia – grew by more than 5%, and included “a consistently positive like-for-like performance across Black Friday and the Christmas period”.

However, JD did not break out its Christmas trading performance.

Gross profit margins were maintained at prior year levels, and JD said it stuck to its “policy not to enter into short-term reactive discounting unnecessarily”.

It said group profit before tax for the year ended 2 February 2019 will be at the upper end of published market expectations – ranging from £325m to £352m.

The group opened its first two stores in Thailand in the second half of the period, and its first five JD stores in the US ahead of the key festive trading period.

The US expansion included the conversion of three Finish Line stores, and a further 15 will be completed in the first half of 2019.

The ongoing 352,000 sq ft extension to its primary Kingsway warehouse is set to be complete in late spring 2019.

JD will report its preliminary results for the year ended 2 February 2019 on 16 April.

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