JD Sports and Jessops sales rise

JD Sports says the company's profit figures may exceed expectations

JD Sports and the camera chain Jessops have bucked the trend on the High Street, reporting that sales during the Christmas period were up on last year.

JD Sports said that in the five weeks to 3 January sales in stores open more than a year were up 2.8%.

Jessops said in the five weeks to 5 January, like-for-like sales rose 3.1%, although the company warned that its profit margin had been hit.

Retailers have been offering heavy discounts to attract shoppers.

Bury-based JD Sports, which has 430 shops, said the rosy sales data meant that the company's profit figures may exceed current expectations. Sales rose 3.8% in the 48 weeks to 3 January.

JD Sports shares were up around 12% in morning trade, while Jessops shares were up almost 20%.

Although Jessops saw a Christmas boost, it said sales in the 14-week period ending 5 January were down 5.6%.

Gloomy updates

Many retailers have issued gloomy trading updates in the wake of the holiday period.

Clothing retailer Next's like-for-like sales dropped 7% in the six months to Christmas Eve while Debenhams said its like-for-like sales in the past 12 weeks had fallen 3.3%.

Several other retailers have called in administrators since Christmas, including music and film retailer Zavvi, Viyella and childrenswear chain Adams.

Supermarkets have fared better, with Waitrose sales up 41% in the week to 27 December and Sainsbury's reporting like-for-like sales, excluding petrol, rising by 4.5% from a year earlier in the 13 weeks to 3 January.

John Lewis said sales rose 27.4% in its department stores during the week ending 3 January, compared with the same period a year ago.

It admitted, however, that this could have been boosted by a number of factors, including starting its sale earlier.