World Cup boost for JD Sports

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The Independent Online

JD Sports Fashion delivered another set of market-beating results yesterday after the retail chain increased half-year profits by 36 per cent to £19.3m.

The improvement, which continues JD's record of outperformance in the retail sector, was driven by the company's sports stores, which saw operating profits increase by £4m to £21.6m following the World Cup.

It also noted signs of improvement in its fashion business, which trades as Bank and Scotts. Across the group, like-for-like sales were 2.8 per cent higher in the six months to the end of July, reflecting a 3.9 per cent improvement on the sports side and a drop of 3.8 per cent in the fashion business.

The retailer – recently promoted to the FTSE 250 – posted a 64 per cent rise in pre-tax profits to £16.6m on sales up 18 per cent at £384m. Like-for-like sales in the first four weeks of the second half were up 2.7 per cent.