John David Group (The) PLC
17 January 2006
17 January 2006
THE JOHN DAVID GROUP PLC
CHRISTMAS TRADING STATEMENT
Since The John David Group Plc (the 'Group') reported its interim results for
the 26 weeks ended 30 July 2005 on 5 October 2005, there has been a substantial
improvement in the like for like sales performance of the core Sports Fascias.
The improvement in the gross margin performance of the business achieved in the
first half has also been maintained and cost ratios further improved. It is
therefore expected that Group earnings for the current year to 31 January 2006
will exceed current market expectations.
Group like for like sales for the 8 weeks ended 7 January 2006 were +4.7%
(Sports +6.0%; Fashion -7.5%). Since 1 October 2005, Group like for like sales
for the 14 weeks ended 7 January 2006 were +3.5% (Sports +4.9%; Fashion -9.6%).
The cumulative Group year to date like for like sales performance up to 7
January 2006 has improved from -2.5% reported on 5 October 2005 to -0.4%.
The Allsports business (acquired on 28 October 2005) has been excluded from the
above like for like figures to avoid distortion.
The Fashion sales performance has been disappointing but the margin uplift in
this division has been good and the acquired RD Scott stores in particular, have
shown considerably improving trends in recent weeks. The Fashion business
continues to account for less than 10% of total Group turnover.
The store portfolio obtained from Allsports (Retail) Limited (in Administration)
has so far been used to clear its stocks and will make a loss in the current
year. The clearance process will continue into the first half of 2006/2007, but
the Board is confident that the acquisition will be earnings enhancing in the
full year.
Peter Cowgill, Executive Chairman, commented: 'We are pleased with our
performance over the Christmas period and believe it demonstrates that our
consumer offer and operational strategy are resulting in an improving
performance from the Group.'
Enquiries:
The John David Group Plc Tel: 0161 767 1608
Peter Cowgill, Executive Chairman
Barry Bown, Chief Executive
Brian Small, Finance Director
Hogarth Partnership Limited Tel: 020 7357 9477
Andrew Jaques
Barnaby Fry
This information is provided by RNS
The company news service from the London Stock Exchange
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