Sports and fashion retailer John David Group has announced like for like sales growth of more than 4.2 per cent in the seven weeks to May 31.
JD said that growth was better than that of its preliminary results, when like-for-likes rose 4 per cent at its sports fascias and 4.9 per cent at its fashion fascias for the 10 weeks to April 12.
The retailer said that while gross margin had been maintained, further increases remained challenging.
Investec analyst David Jeary recommended a higher value for JD because its younger customer base being relatively more immune to a weaker customer environment.
Jeary said: “JD has created a differentiated position in the broader sports market, driven by own brands and exclusive ranges, format innovation and strong marketing and promotions.” He also believes there is longer-term potential for overseas expansion.
No comments yet