Investments and investor services
FTSE 100 closes on a high but latest UK stats weigh on retailers
Turns out it was a blue Christmas for the UK retail sector, with sales data showing a worse than expected December period.
Company
LON:JD.
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. The JD Group now has well over 500 stores covering both sports and branded fashion but it all started when John David Sports was founded in 1981 with one shop in Bury. By 1983 the fledgling business was expanding into the Arndale Centre in Manchester and throughout the 1980s there were further openings, largely in the North and Midlands. The first London store was opened in Oxford Street in 1989 and by the time of JD’s stock market flotation in 1996 there were 56 stores. Maximum advantage was being taken from the growth in sales of international sports brands such as adidas, Nike, Reebok and Puma and the trend to wear sportswear more and more in everyday life rather than largely on sports fields. Additionally, JD had already developed its reputation as the most innovative visual merchandiser of sportswear with the best and most exclusive and stylish ranges.
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Investments and investor services
Turns out it was a blue Christmas for the UK retail sector, with sales data showing a worse than expected December period.
Investments and investor services
A look at some of the top risers and fallers in London today
Like-for-like sales growth in the second half remained at 3% despite tough comparatives in the year-ago period
Investments and investor services
London’s blue-chip benchmark closed around 13 points lower on the day at 7,755
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Day ahead includes latest UK inflation data, plus trading updates from retailers Dunelm PLC, Greggs PLC, and JD Sports Fashion PLC, as well as Johnson Matthey PLC
The trendy athleisure wear retailer issued shares at £1.64 as part of its November IPO, since when they’ve surged by 50%
Liberum analyst Wayne Brown is a big fan of the management team, product offering and growth potential at the ‘on-trend’ fashion retailer
Jefferies has concerns over the effect of increased competition, margin pressures and the performance of new stores
Shares in the sportswear retailer were sold at £1.64 to institutions as part of the initial public offering, but they’re already being offered at 202p
The float comes at an interesting time given the troubles high street retailers have had in recent years
Some of the main news-driven risers and fallers at 3.30pm...
The FTSE 250-listed firm said its pretax profits for the 26 weeks to July 29 jumped by a third to £102.7mln, up from £77.4mln a year earlier
As trading in London draws to a close, all eyes turn to the launch of Apple's latest iPhone which is scheduled to take place at 6pm UK time
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Day ahead includes the launch of Apple Inc's iPhone 8, the August UK inflation numbers, and first quarter results from FTSE 100 equipment hire firm Ashtead Group
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Week ahead includes latest Bank of England policy meeting, UK data on inflation, unemployment, wages and retail sales, plus corporate updates from Next, Associated British Foods, Wm Morrison Supermarkets, and JD Wetherspoon
Mike Ashley's Sports Direct has been beefing up its portfolio
Sports Direct has guided towards a return to underlying earnings growth next year but remains cautious on the uncertainty of Brexit
Sports Direct posted a decline in annual underlying earnings but is confident that it will return to growth in the next fiscal year
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Can the supertanker Unilever ride the crest of a wave? Can a Newcastle United owner change his stripes?
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Of course if you’ve already done so, this article probably doesn’t apply to you…