subject: Expected Christmas Sales Could Improve Things For The Jd Group [print this page] Everyone has been feeling the pinch in recent times and it appears that retail spending is at an all time low. JD Sports, a popular leader in the sportswear industry has also felt the brunt of shoppers looking only to purchase sale items and necessities in order to keep their spending within their budget.
JD Sports, popular for stocking leading brand names like Nike and Adidas, is now having to continue with cost cuts, reducing prices and clearing out last seasons stock at drastically reduced prices. The JD Group, who have also bought out other competitors in recent years as they expand, reported pre-tax losses amounting to 2.6m pounds, and even though sales have been down, if sales increase leading up to and including the Christmas period, the financial situation could start to look a little brighter.
The JD group also make it clear that there has been a general sales decline since the July 7 London bombings and further still, since the attempt of further bombings on July 21. The sales decline due to these unfortunate events have seen losses expand into the double digits. With the current tough environment and trading conditions causing sales to fall, it also appears that sales have fallen as well, since the disclosure in July, of the AGM trading statement.
The CBI, having conducted numerous detailed studies and surveys over the past 22 years in relation to the retail industry, revealed that sales have been falling at a much faster rate than ever before.
Knowing this, the JD Group really needs business to improve in the lead up to Christmas as well as over the new year period.
JD Sports Fashion PLC has long been established as the leading UK specialist multiple retailer of fashionable branded and own brand sports and casual wear, principally through the growth of its main retail fascia, JD Sports.
