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JD Sports Fashion reports improving sales

JD Sports Fashion has reported improved trading in the UK and Republic of Ireland with like-for-like retail sales up 4.1% for the eighteen weeks to June 5.

Sales at its fashion fascias, which include Bank and Scotts, dipped 1.2% - an improvement from a negative 3.5% like-for-like fall at the chains for the 10 weeks to April 10.

Its Bank chain moved into positive like-for-like territory, posting comparable sales growth of 0.3% over the eighteen week period, while Scotts showed a narrowing decline of 4.4%.

JD Sports Fashion said that it was also pleased with “progress on margins”, particularly across its fashion fascias.

At its sports fascias, the core being the JD chain, it recorded like-for-like growth of 5.1%, boosted by a strong run in to the World Cup.

The retailer posted a pre-tax profit rise of 61% to £61.4m for the year to January 30 in April.

The retailer’s next trading update is on September 21.

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