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UK retail chain talks up Easter profit hike
By John Bowker |
April 9, 2009, Thursday
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Print Edition
Print Edition
BRITISH sports fashion chain JD Sports said yesterday that it expects the Easter holidays to deliver a 2 percent boost to like-for-like sales for the current trading year, building on better-than-expected full-year results.
The company said like-for-likes at its 450 stores were up 0.3 percent in the year to date, but Easter would improve the figure.
"Its the impact of the school holidays - we expect to move up a couple of points," Chief Executive Barry Brown told Reuters.
JD Sports said earlier yesterday that full-year pretax profit before exceptional costs came in 24 percent higher at 53.6 million pounds (US$78.65 million), ahead of analyst forecasts for about 50 million.
The full-year dividend was raised 41 percent to 12 pence a share.
Brown was tight-lipped JD's plans for its 10 percent stake in rival JJB Sports.
The company said like-for-likes at its 450 stores were up 0.3 percent in the year to date, but Easter would improve the figure.
"Its the impact of the school holidays - we expect to move up a couple of points," Chief Executive Barry Brown told Reuters.
JD Sports said earlier yesterday that full-year pretax profit before exceptional costs came in 24 percent higher at 53.6 million pounds (US$78.65 million), ahead of analyst forecasts for about 50 million.
The full-year dividend was raised 41 percent to 12 pence a share.
Brown was tight-lipped JD's plans for its 10 percent stake in rival JJB Sports.
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