Sales rise at Tiso owner
JD Sports offers glimmer of hope for beleaguered retailers
Tiso’s Glasgow Experience
JD Sports, which also owns Tiso, Size, Blacks and Go Outdoors, offered some comfort to beleaguered retailers with like-for-like sales more than 5% higher over the 48 weeks to 5 January.
Total sales growth is 15%, excluding the recent acquisitions of Finish Line in the United States and Sport Zone in Iberia.
Sales had been “consistently positive” across Black Friday and the Christmas period, the company said.
It is confident full-year results – for the year to 2 February 2019 – will be at the “upper end” of published market expectations. These range from £325m to £352m.
Shares were up 8.25% in afternoon trade.
In a trading update the firm said: “Given the well-publicised challenges within the wider UK retail market, we are pleased with this trading result which further demonstrates the robust foundations of our dynamic multibrand, multichannel proposition across our core market and our capacity for further growth across an expanding geographical reach.”
Full year results will be published on 16 April.
Peter Cowgill, executive chairman, said: “I am pleased with the continued progress of the Group both in terms of our performance in existing markets and the recent positive developments in the United States.
“We are confident that domestically and internationally, in stores and online, our unique and often exclusive sports fashion premium brand offer provides a solid foundation for future development.
“On behalf of the board, I would like to thank all our colleagues for their significant contribution in delivering another excellent performance.”