JD Sports, Jessops provide retail bright spot
Friday 9th January 2009, 7:12AM GMT.
JD Sports and Jessops have provided some cheer for the retail sector with higher sales over the Christmas period.
Despite bucking the high street trend and holding off on sales until Boxing Day, sport-inspired fashion retailer JD Sports reported a 2.8 per cent rise in like-for-like sales for the five weeks to January 5th.
JD Sports has previously reported that its core customer base – teenagers – are less sensitive to economic worries and are still prepared to pay for fashion.
Photography specialist Jessops also reported a rise in like-for-like sales – a sales measure that excludes new stores – of 3.1 per cent.
However, the firm admitted the rise in sales came at a cost to profit margins as stores fought to stay competitive amid tough conditions with heavy discounting.
High street retailers have been issuing statements for the crucial Christmas trading period this week and there have been several surprises in what was feared to be a washout.
Next, Debenhams and Sainsbury’s have all seen their stock rise on sales figures that prove consumers did not give up on Christmas, although numbers were understandably down from last year.
However, a number of retailers failed to make it through the festive period intact. Woolworths closed its doors for the last time this week, while Zavvi, Morgan and childrenswear firm Adams went into administration.
This week, textile and womenswear firm Viyella joined the list when it went into administration.
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