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7 January 2011
Last updated at 03:04 ET
Retailer JD Sports Fashion said it had shrugged off the winter weather to boost sales during Christmas trading.
The group said like-for-like sales were up by 2.5% in the 5 weeks to 1 January.
And the firm added it now believed it would beat City pre-tax profit forecasts of £75.4m for the current financial year.
But it warned the VAT rise and an inflation-driven increase in costs meant tough conditions in 2011.
Executive chairman Peter Cowgill said Christmas trading had been "pleasing", praising staff who "ensured that we were largely unaffected over the full five week period by the difficult weather conditions experienced in December".
However he added: "The trading environment facing all retailers, and perhaps clothing retailers in particular, will provide additional challenges in the year to come."
The group trades as JD Sports, Chausport, Size, Bank and Scotts from more than 530 stores.
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The group said like-for-like sales were up by 2.5% in the 5 weeks to 1 January.
And the firm added it now believed it would beat City pre-tax profit forecasts of £75.4m for the current financial year.
But it warned the VAT rise and an inflation-driven increase in costs meant tough conditions in 2011.
Executive chairman Peter Cowgill said Christmas trading had been "pleasing", praising staff who "ensured that we were largely unaffected over the full five week period by the difficult weather conditions experienced in December".
However he added: "The trading environment facing all retailers, and perhaps clothing retailers in particular, will provide additional challenges in the year to come."
The group trades as JD Sports, Chausport, Size, Bank and Scotts from more than 530 stores.
Online Business Consulting | Internet Business Consulting