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Jogging along to extra profit at JD Sports
4 Feb 2009Jogging shoes that aren't used for jogging and baseball caps that are not needed for baseball are still popular despite the downturn.
JD Sports said today that strong Christmas trading has continued into January, which means profits for the year will be a bit better than expected.
JD has also benefited from strife at rival JJB Sports, which has been shutting stores as it battles to cut costs and stay in business.
The company, under executive chairman Peter Cowgill, is placed at the fashion end of the sports clothing market, selling street clothes rather than athletics gear.
Altium Securities, which rates the shares a buy, now reckons JD will make £50 million profit for the year to the end of January. It previously estimated £48 million.
JD and JJB have just been voted the two worst High Street retail chains by readers of Which? magazine. They scored 36 and 37 out of a possible 100, with readers complaining of poor service.
