Market forces breaking news: Fashion brands push JD Sports profits higher

The Guardian-11 years before

Britain's third-largest sportswear retailer posted an 11.1% jump in pre-tax profits for the 20 weeks to 1 August, to £10.1m. The figures show that JD's fashion ranges - including Nike, Adidas and Timberland - are holding up well, probably thanks to younger shoppers.

Recent retail sales figures have suggested that consumers are still reluctant to spend, suggesting Christmas trading could be tough, but executive chairman Peter Cowgill believes JD will hit market expectations for the rest of the year:

The Sports Fascias remain the core of Group profitability. Their strength l...es in our unique blend of sports and fashion brands, the strong brand relationships which allow us to develop exclusive products, and our exclusive own brands and superior visual merchandising.

Given the track record of delivering on expectations this year, even though the shares have enjoyed such a strong run, few would bet against further progress.

In other developments, Imperial Tobacco updated the City that its trading for the current financial year, ending next week, is in line with forecasts. Last year's takeover of Spain's Altadis is also a success, it said:

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