The retailer's turnover grew during the 52 weeks to January 29 by 3 per cent, to£471.6 million. Profit before tax also grew, by 25 per cent to£2.6 million. Like-for-like sales increased by 4.7 per cent.
Gross margins were level at 45.6 per cent, because of markdowns on aged and under-performing stocks. Some 41 under-performing stores were disposed of, although this was offset by the acquisition of RD Scott Fashion fascias, in terms of maintaining selling space.
The retailer said that group like-for-like sales increased by 2.4 per cent in the 13 weeks to April 30. JD Group executive chairman Peter Cowgill said: 'The group made considerable progress in turning around its trading performance and reduced its net debt by£20.3 million to£30.8 million.
'The board remains confident that continuing progress is being made in the restoration of more favourable operating ratios across the group.'
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