JD reports bumper sales of England shirts in build-up

JD reported bumper sales of replica England shirts in the run-up to the World Cup with Wayne Rooney and fellow forward Daniel Sturridge shirts selling well.

It has also seen good sales of trainers.

The company did not provide figures for the 18 weeks to June 7, but said it expects first half profits to be in line with expectations.

Executive chairman Peter Cowgill said: “The build-up to the World Cup has enhanced the trading performance of our most significant segment of the business, the sports fascias.

“As a consequence, precise like for like sales figures, at this stage, would be potentially misleading. However, we are certainly pleased with the underlying performance of this segment in the period to date.

“JD remains the first choice for consumers seeking to stay on trend in sports fashion.”

Analyst Kate Calvert, at Investec, said: “After a knockout 2014, JD Sports reports a pleasing start to the year.

“The team feels giving sales numbers would be misleading as the World Cup build-up has enhanced the sports division’s performance.

“Outdoor is described as ‘positive progress’ and fashion ‘varied but encouraging’.

“A good England football performance would be the icing on the cake in the first half.“

However, a failure to beat Uruguay in a ‘do or die’ clash tomorrow evening could send the England team home early.

JD said the outdoor business is maintaining positive progress against weak comparatives last year and whilst fashion continues to experience a varied performance, there are encouraging signs for the future.

“Based on the trading performance to date we anticipate a satisfactory increase in first half profitability in line with our expectations,” said Mr Cowgill.

The group’s interim results for the half year to August 2 will be published on September 17.

“JD’s valuation is undemanding given the international growth potential and the opportunity to reduce losses in outdoor and fashion,” said Ms Calvert.

“The key risks are a change in the economic or competitive environment.”