The trends suggest clothing retailers have held up well over Christmas with JD Sports following in Next’s footsteps as it announced bumper festive trading.
This is a story of the survival of the fittest. Weaker retailers have fallen by the wayside as the likes of Next and JD have come to the fore – the latter even enjoying highest ever weekly sales in the run-up to Christmas.
AJ Bell’s Russ Mould said: “This is testament to the continuing appeal of the brands which fill JD’s stores and to a youthful consumer who are often living at home and therefore don’t have utility bills, rent or a mortgage to pay.
“JD is also benefiting from improved availability of products and easing shipping costs – two headwinds which had an impact on profitability in 2022.
“All eyes will now be on a big investor day at the beginning of February when JD will be expected to update on its digital strategy and what it intends to do with its increasingly large pile of cash.”