World Cup comparisons sour like-for-like figures for retailer JD Sports

Fashion retailer JD Sports yesterday blamed a deterioration in like-for-like sales on tough comparisons with booming turnover during the run up to last year's World Cup.

The group, which operates 350 JD Sports and Size outlets in the UK, said same-store sales for the first 18 weeks of the financial year declined by 2.8 per cent, up from a 1.2 per cent fall in the first eight weeks.

JD reported a fall in like-for-like sales in both its sports and fashion sectors, down 3 per cent and 1.6 per cent respectively. But the retailer warned it was hard to interpret underlying trends because of the World Cup comparison. In its short first-quarter trading update, the firm also maintained its cautious outlook as the squeeze on consumer spending continues.

The retail sector has been under heavy pressure in recent months as companies - including JD rival JJB Sports - have announced store closures in the face of soft trading.

Mark Photiades, analyst at Singer Capital, said JD remains "an extremely well-run business" with a number of growth opportunities at home and overseas. He said JD's overseas businesses - Chausport in France and Champion in Ireland - are fit for development and the refit programme in its core sport business in the UK presents a strong opportunity for growth.