John David Group (The) PLC
18 January 2005
18 January 2005
THE JOHN DAVID GROUP PLC
Since The John David Group PLC (the 'Group') reported its interim results on 14
October 2004 trading has continued to be encouraging in the core Sports
business, the performance of which has benefited in the second half from the
rationalisation of underperforming stores undertaken to date and weak prior year
The sales and margin comments set out below exclude any figures for RD Scott
Limited ('Scotts') which was only acquired on 15 December 2004 and has performed
in line with our expectations to date:
•Group total sales were 4% higher than prior year in the eight week period
ended 1 January 2005.
•Group like for like sales increased 6% in the same eight week period with
the core Sports business performing marginally better than this.
Whilst underlying gross margin also improved in the Christmas trading period,
the more aggressive elimination of underperforming stock, particularly in the
Fashion business, has continued throughout the period since the interim results,
with a corresponding impact on current year margin.
The store closure programme has continued to date as planned and can be seen to
be benefiting performance but will generate a further exceptional charge at the
Peter Cowgill, Executive Chairman, commented: ' The Christmas trading period has
proven that our consumer offer and our strategy are stimulating a continued
recovery in the Group's performance.'
The John David Group PLC Tel 0161 767 1608/1000
Peter Cowgill (Executive Chairman) Mob 07876 680373
Barry Bown (Chief Executive)
Brian Small (Finance Director)
Hogarth Partnership Limited Tel 0207 357 9477
This information is provided by RNS
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