The John David Group Plc, stated at its recent Annual General Meeting that comps for sports stores during the first half-year are now up by 4.0%, excluding the recently acquired Allsports chain. The growth was said to be due to the World Cup to some extent. The overall performance of the acquired Allsports property portfolio, which continues to be restructured, remains “satisfactory” and JDG management stated that the acquisition is proving useful in demonstrating varying product preferences in different localities.

Overall gross margins continue to improve gradually and operating costs are said to be in line with expectations. The JDG also recently acquired 14 airport stores from Hargreaves Sports Limited in various terminals at Heathrow, Gatwick, and Stansted. The consideration for this transaction was £5 million ($9.1 mm). The JDG Board believes that airport retailing is particularly relevant to the Group and that these stores complement the Manchester Airport Allsports location.