JD Sports reports sales rise

JD Sports has reported that group like-for-like sales have risen 4.7 percent in the 8 weeks ended 7 January. The sportswear retailer also said that its earnings would surpass expectations. Sportswear sales increased 6 percent during the Christmas and New Year period, while the group's fashion stores, which account for less than 10 percent of total sales, saw sales drop 7.5 percent.

"We are pleased with our performance over the Christmas period and believe it demonstrates that our consumer offer and operational strategy are resulting in an improving performance from the group," chairman of owner The John David Group Peter Cowgill said in a statement. The John David Group, which also operates stores under the First Sport brand, reported that it had maintained a boost in gross margins during the first half thanks.

www.jdsports.co.uk
17 January 2006

John David Group acquires Allsports

The John David Group has acquired rival Allsports for £18 million. The owner of JD Sports bought the company after it had been restructured by its administrator, BDO Stoy Howard. Allsports went into administration in September of this year, with 92 of its 270 stores closing at a cost of 1,300 jobs. JD is expected to keep 111 stores that it would add to its existing inventory and retains an option on the remaining 67.

JD is making the acquisition in order to boost its market position. There is concern in the sports sector that JD could be subject to a buy-out or take-over by a major foreign sports company as the sector suffers a slowdown in UK sales. JD is the number three player in the market, with Allsports in fourth place.

www.jdsports.co.uk
1 November 2005

Pentland Group Owns Majority JD Sports

Pentland Group has declared its offer for sportswear retailer JD Sports unconditional after reaching its target for acceptances. Sportwear brand owner Pentland launched its offer last month, after agreeing to buy out the 45 per cent of the business owned by JD Sports co-founders John Wardle and David Makin.

However, by pitching the offer a 211p a share, below the market price of JD shares, Pentland expected few further acceptances. The company said that its bid vehicle Manchester Square Enterprises has received total acceptances amounting to 56.36 per cent of JD shares. That gives Pentland majority ownership of the company while maintaining a stock market listing.

When launching the offer, Pentland chairman Stephen Rubin said: "Given the view we have of JD's future prospects, and the discount to the market price represented by the offer, we are not expecting a high level of acceptances. Indeed, we look forward to sharing in the future of JD alongside other JD shareholders who, like us, have faith in JD's future."

Pentland Group owns a number of international sports and leisure brands, including Ellesse, Speedo, Kickers, Berghaus and Red or Dead.

www.JDsports.co.uk
1 June 2005

Better trading at JD Sports

The JD Sports chain has reported better trading in its core sports retail business. Since the Group announced its interim results in October, the performance has benefited from the rationalisation of underperforming stores as well as benefiting from weak comparatives with the previous year.

Excluding the RD Scott business acquired in December, group sales were 4 per cent higher in the eight weeks to January 1, with like-for-like sale up 6 per cent.

www.JDsports.co.uk
19 January 2005

JD Acquires RD Scott

John David Group, owner of the JD Sports chain, has acquired privately-owned branded casual fashion retailer RD Scott for £4m. Scotts operates 23 stores in the North West, Midlands and Yorkshire, selling brands such as Henri Lloyd, Rockport, Lacoste, Ted Baker, Paul Smith, Hackett and Firetrap.

In the 15 months to April 4, it had a turnover of £18m and reported an operating loss of £138,000, which JD said included two calendar year first quarters which were loss making quarters due to the seasonality of the business. Scotts will operate as part of JD's existing fashion division, which currently has 34 stores. The group's flagship fashion chain is ATH, which JD said recently has "suffered from a lack of consistency in its image and brand offer as well as an inherited stock buy which was poor in selection."

JD said the acquisition is expected to be immediately earnings enhancing for JD and, "more importantly, will bring the group an experienced, branded fashion management team capable of accelerating performance improvement in the fashion division." JD executive chairman Peter Cowgill said: "This acquisition brings together two smaller fashion operators to compete more strongly in the growing market of multiple branded fashion for young men and women, thereby increasing our critical mass in the sector.

"It enables us to access a more comprehensive brand offering and, importantly, provides us with an experienced branded fashion management team who will be joining us from Scotts. The team will be responsible for a truly autonomous and accountable fashion division and should be the foundation of a profitable future for the combined business."

www.JDsports.co.uk
16 December 2004

Tough Market For John David Group

Fast fashion is proving to be a tough market for retailer John David Group, which operates the JD Sports chain and Ath, the more fashion-led chain. Group turnover increased to GBP458.1m across the year, up from GBP370.8m in the 10 months to the end of January 2003 a year before, while pre-tax profits of GBP6m were down from GBP15.1m in the 10 months to January 31.

Peter Cowgill, who replaced executive chairman Roger Best in March stated: "Since my return to the Group, we have been carefully evaluating our operations and procedures with a view to improving the future prospects of the business. All strategic options remain under review." Cowgill said that the core sports business, representing 90 per cent of group sales, continues to perform strongly without the need to discount, while the fashion chains continue to disappoint.

Cowgill said JD Sports' strong relationship with brands such as Nike Adidas, Puma, and Lacoste, "who recognise our pre-eminence as visual merchandisers of their products to target consumer groups, is key to our continuing success. This part of our business will drive the future business performance". The group said that trading since the year-end has been in line with expectations, "although the fashion fascias will take some time to recover from some of the buying decisions in the past year".

www.JDsports.co.uk
11 May 2004

JD Sports expansion continues

John David Sports plc, the sports fashion retailer, met its financial targets in the first half of the year and wil continue to focus on the expansion of its points of sale quantity. JD Sports wants to expand their sites to 300. JD Sports sells brands as Adidas, Nike, Reebok, and Fred Perry, but also has their own brands McKenzie and Cabrini. The retailer opened 15 new stores in the first half, bringing its total store count to 155, of which 21 are out of town sites. A futher seven stores were opened in the eight weeks since 30 September, in which trading produced a like-for-like sales growth of 2 %.

The Heywood-based company saw turnover increase in the six months to 30 September 2001 by 18 % to GBP 118.3m. Like-for-like sales were up by 3 % as expected. Pre-tax profit in the period increased by 16 % to GBP 10.9m. Warm weather had affected sales performance in October, but the company is well placed for long-term growth according to a spokesman.

www.JDsports.co.uk