Jun 8, 2009
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JD Sports Fashion underlying sales improve

Jun 8, 2009

LONDON, June 8 (Reuters) - British clothing and footwear retailer JD Sports Fashion Plc (JD.L) said on Monday 8 June its sales growth improved in its latest trading period.

JD Sports

The group said its underlying sales increased 1.7 percent over the 17 weeks to May 30, with growth in its sports fascias of 1.2 percent and growth in its fashion fascias of 4.6 percent.

This compares with group like-for-like sales up 0.3 percent in the nine weeks to April 4, with the sports fascias down 0.2 percent and fashion fascias up 3.6 percent.

"Whilst hitherto satisfactory, maintaining the gross margin comparative with the previous year may prove increasingly challenging later in the year, particularly having regard for exchange rate pressures," said JD Sports.

"However, the board remains encouraged by the progress made so far this year towards achieving results in line with management expectations."

Shares in JD Sports, which have risen by two thirds over the last three months, closed on Friday 5 June at 471 pence, valuing the business at 229 million pounds ($363.9 million).

(Reporting by James Davey, editing by Mark Potter)

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