LONDON (dpa-AFX) - JD Sports Fashion Plc (JD.L), a sports fashion retailer, on Thursday recorded a decline in like-for-like or LFL sales for the third quarter, due to volatile market environment. However, the company posted a rise in organic sales.
The retailer also revised down its annual adjusted pre-tax earnings outlook.
For the three-month period, due to more volatile environment, the Group's LFL sales moved down 0.3 percent with a good August and September offset by a softer October. However, year-to-date LFL sales growth was 0.5 percent. On a LFL basis, stores continued to outperform online and footwear continued to outperform apparel in the period.
Driven by JD's store rollout program, the firm registered organic sales growth of 5.4 percent for the third quarter, with year-to-date organic sales growth of 6.1 percent.
The retailer opened 79 new JD stores, taking the total number of openings by the end of the third quarter to 181. The total number of stores at the period end was 4,541, up 1,224 from the start of the year, including 1,179 stores acquired with Hibbett.
Looking ahead, for the full year, JD Sports now expect profit before tax and adjusting items to be at the lower end of its original guidance of 955 million pounds to 1035 million pounds.
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