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Profits above expectations at JD Sports Fashion

JD Sports Fashion saw like-for-like sales rise 2.8% for the five weeks ended January 3. Gross margin was maintained, meaning full year profits will come in above market expectations.

JD Sports Fashion said that within its positive like-for-like performance its sports fascias, which include JD, saw a 1% uplift in like-for-like sales. Its fashion fascias, which include Scotts and Bank, saw like-for-like sales rise 12.5%.

The performance is particularly impressive given last year’s strong Christmas performance, when like-for-like sales were up 9.6%.

Cumulative like-for-like sales for the 48 week period to January 3 are therefore up 3.8%, with sports up 3.1% and fashion up 8%.

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