JD Sports cautious as sales decline

9th Jun 2011 07:21

Continuing pressures on the UK consumer have contributed to an acceleration in the decline in sales at Trendy sportswear retailer JD Sports Fashion. Like-for-like sales in the period between the end of January and 4 June fell by 2.8% from the same period the previous year. That compares with a 1.2% decline in sales in the year to 29 January.JD Sports said its "cautious outlook" remains unchanged and is based on "very clear downward pressures on levels of gross consumer expenditure in our market and the increased VAT take from such expenditure."Margin deterioration has been in line with expectations, the company said.---RG