A surprise trading update from JD Sports Fashion (JD.) revealed that performance is "in line with market expectations", as same stores sales in the UK and Ireland sports retail division grew 7 per cent in the 18 weeks to 8 June - an improvement on the 1.9 per cent growth experienced in the first nine weeks of the year.
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The main fashion brands saw same store sales fall 5 per cent, but benefits from management changes are expected to materialise later in the year. The outdoor division, Blacks Leisure and Millets, reported positive like-for-like sales growth, but at significant margin sacrifice. Developing profitability here "remains a work in progress", with the biggest improvement also expected in the second half.
