Trading Statement

John David Group (The) PLC 15 January 2003 15th January 2003 THE JOHN DAVID GROUP PLC CHRISTMAS TRADING UPDATE The John David Group Plc ('the Group'), a leading specialist retailer of fashionable branded sports and leisure wear, today provides details of its Christmas trading for the six week period ended 11th January 2003. Christmas Trading Review In early December 2002 we reported our interim results and highlighted the importance of the key Christmas and January sales periods to our overall performance. In common with many other retailers, pre Christmas trading was slower than expected followed by improved sales in the post Christmas sales period. As a consequence, the six weeks to 11th January 2003 produced a like for like sales performance of -1.36% in the JD Sports Division and -2.03% in the First Sport Division. Total sales increased by 11.36% in JD Sports Division and decreased by 3.21% in First Sport Division, during the same period; First Sport's total performance being influenced by a small number of store closures in comparison with the previous year. Stocks now continue to be in line with plan although the overall gross profit margin generated during this key trading period has been at a lower level than would normally be anticipated. As a consequence, we expect that our profits will be below current market expectations for the period to 31st January 2003. Our final results are expected in April 2003. John Wardle, Chairman, said: 'I am disappointed with our trading performance during the key Christmas period and our overall reduced gross profit margin. I remain cautiously optimistic, however, that trading will improve in the new financial year following the integration of the First Sport Division and particularly as we are now in full control of the total buy in this division from Spring 2003. Stocks continue to remain in line with plan and are expected to resume to normal trading and margin performance during February 2003. The past year has been a demanding one, having absorbed a significant division into our operation - almost doubling the size of the Group - and I remain confident that this division will enhance our earnings in future periods. I therefore also continue to remain confident in our strategy, future success and long term profitability of the Group.' Enquiries to: The John David Group Plc 01706 628000 Barry Bown (Chief Executive) Malcolm Blackhurst (Finance Director) Hogarth Partnership Limited 020 7357 9477 Andrew Jaques Tom Leatherbarrow This information is provided by RNS The company news service from the London Stock Exchange
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