This sports wear fashion retailer looks like it could be set for a recovery having had a solid Christmas and maintained trading strength through into the new Year.

Its long term chart is showing signs of an uptrend channel developing and the sp as crossed the 10 and 30 day moving averages..



Trader Chart



Last Trading Statements..

Xmas Statement

http://www.investegate.co.uk/Article.aspx?id=200901090700073733L

January Trading Statement

http://www.investegate.co.uk/Article.aspx?id=200902040700127485M

Fundies..

INVESTMENT RATIOS
2008 (A) 2009 (E) 2010 (E)
EBITDA 55.35m 63.30m 65.30m
EBIT 43.13m 47.48m 48.90m
Dividend Yield 2.68% 3.63% 3.99%
Dividend Cover 9.07x 7.17x 6.88x
PER 4.12x 3.85x 3.64x
PEG 0.06f 0.55f 0.66f
Net Asset Value PS 83.41p p p

Trades on a forward P/E of less than 4 for 2010.

Nothings guranteed but this looks like a forerunner in green shoot recovery for fashion sports clothing retail.

Beta 0.2

DYOR

Some recent very bullish broker analysis here....

http://www.h-l.co.uk/shares/Stockbroker-tips/articles/2590483?rq=article

The continuing ability of retailer JD Sports Fashion to beat the High Street blues has impressed investment analysts.

Altium Securities said this morning's trading update had reinforced its confidence in the sports fashion retailer.

"Its trading remains robust, its balance sheet is strong (cash-rich) and it remains cash generative," said Altium's David Stoddart.

Meanwhile, broker Oriel said the trading update "oozes confidence" and predicted that analysts would rush to update their earnings forecasts as a result.

"We may fine tune our numbers a little today but there's no doubt that the shares are fabulously cheap. Three times PE? 20% yield? No debt? You name it, there's a reason to buy it (if you can find the stock)," said Oriel investment analyst Jonathan Pritchard.

The market in JD Sports Fashion is relatively illiquid, given the 57% stake held by holding company Pentland.

Investment house Singer & Friedlander (S&F) expects earnings estimates to be raised by around 5% in the wake of the statement.

"We believe this points to a new range of around 50m for the year to January 2009," S&F said. "The shares look massively oversold and we would expect a rebound this morning," the broker added.

Broker BUY recommendation late yesterday..

JD Sports Fashion PLC

FORECASTS
2009 2010

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Investec Securities
10-02-09 BUY 50.00 72.05 9.30 52.00 74.80 10.00

Broker tips: William Hill, JD Sports, Blacks Leisure
11 Feb, 2009 13:04


Bookmaker William Hill is even money to make a rights issue call and suspend its dividend, according to stockbroker Teathers.

With 1.25bn of debt maturing in March 2010 and with credit markets effectively closed at present Teathers believes there is a 50% chance of the bookmaker announcing a rights issue along with its full year results on 27 February.

"We expect any rights issue to be sufficient to avoid a second equity issue (although there will remain uncertainty until the bank refinancing is completed probably later in the year) and that post a rights issue the valuation gap to Ladbrokes remains material and in our opinion unwarranted," analyst Mark Reed said.

The broker has a "buy" recommendation on the shares, with a target price of 360p, and reckons a rights issue, provided it is deemed big enough, "should be welcomed by investors."

If sportswear retailer JJB Sports puts its Lifestyle division into administration then rival JD Sports Fashion could cherry-pick the best assets, Altium Securities believes.

On Tuesday, JJB said it was considering calling in KPMG to administer its Original Shoe Company and Qubefootwear subsidiaries.

JD Sports was reportedly in the frame to buy these units from JJB last year and Altium reckons that snapping up some of the assets from JJB could be earnings enhancing.

In reiterating its "buy" recommendation for JD Sports, Altium said: "JD boasts year-end net cash (though average net cash is negative) so it is not under financial pressure. On a full year 2009 price earnings ratio of only 4 times, it is simply too cheap."

More broker recos out..

11-Feb-09 JD Sports Fashion JD. Seymour Pierce Buy - - Reiteration
11-Feb-09 JD Sports Fashion JD. Altium Capital Buy - - Reiteration

New broker update from late yesterday..

JD Sports Fashion PLC

FORECASTS 2009 2010

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Altium Securities
11-02-09 BUY 50.00 67.00 9.50 51.20 71.60 10.00

Very impressive, a full deck of Broker buys...

JD Sports Fashion PLC

FORECASTS
2009 2010

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Investec Securities
12-02-09 BUY 50.00 72.05 9.30 52.00 74.80 10.00

Altium Securities
11-02-09 BUY 50.00 67.00 9.50 51.20 71.60 10.00

Oriel Securities
10-02-09 BUY 52.00 75.40 15.00 56.00 81.10 18.00

Seymour Pierce
04-02-09 BUY 48.40 69.70 10.00 51.40 74.20 11.00

Numis Securities Ltd
04-02-09 BUY 48.00 70.10 9.30 44.00 64.20 10.00

Kaupthing Singer Friedlander
02-02-09 BUY 44.50 63.20 10.50 45.00 62.60 12.50

2009 2010
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 49.14 69.70 9.72 51.53 73.52 10.69
1 Month Change 1.07 2.66 0.35 4.12 6.72 0.69
3 Month Change 2.59 3.99 0.35 5.66 7.34 0.69


GROWTH
2008 (A) 2009 (E) 2010 (E)

Norm. EPS 72.86% 7.01% 5.48%
DPS 2.60% 35.34% 9.98%

INVESTMENT RATIOS
2008 (A) 2009 (E) 2010 (E)

EBITDA 55.35m 63.30m 65.30m

EBIT 43.13m 47.48m 48.90m

Dividend Yield 2.61% 3.54% 3.89%

Dividend Cover 9.07x 7.17x 6.88x

PER 4.22x 3.94x 3.74x

PEG 0.06f 0.56f 0.68f

Net Asset Value PS 83.41p p p

A forward P/E of just 3.74 for 2010, way undervalued imho.

Full year results April 4th 2009..

UPDATE 1-JD Sports sees profit above market expectations

http://in.reuters.com/article/rbssConsumerGoodsAndRetailNews/idINL455986020090204

SHARES MAGAZINE STOCKS TO WATCH FEB. 12


JD Sports (JD.) Outstanding buy
NWF Buy
Immupharm (IMM ) buy

It appear good to me too goldfinger ,looks like people try avoid expensive brand shops and go for jd , still no big investors , all day quiet

Yep, its one to be patient with.

Value will out Im sure when the markets get stronger.

regards.

J D Sports jd.

Looks like we could have a break out on our hands.

Cheap, very cheap fundies wise and brokers certainly like it.

ONE TO WATCH....

JD Sports puts riot damage at 10m.


JD Sports Fashion has estimated the financial impact of the riots to reach well over 10 million for the retailer.

In a highly emotive interview with the Telegraph, executive chairman at the sportswear chain Peter Cowgill told the press the impact of the riots would form a substantial multi-million pound bill for the chain, before adding, I feel like being physically sick. The way it has gone viral is so depressing.

JD Sports was one of the first retailers to feel the shockwaves of the riots, having been struck at the Tottenham Hale Retail Park on Saturday night. In total it is estimated the riots will cost the economy more than 100 million.

Even as the violence in London subsides, the British Retail Consortium has now stated retailers will face long term problems with damaged properties affecting reputations as well as the short term problems of stolen inventory. Stephen Robertson, the director general of the BRC said: Staff are being intimidated and traumatised, those responsible must be prosecuted and punished. Retailers and their staff are particularly vulnerable and need protecting.

The riots affected a broad range of businesses, from Debenhams to Boots, Carphone Warehouse and Argos, which said 18 stores had been looted. A report this week said at least 10% of retail and leisure businesses had been either directly or indirectly hit by the riots.

But JD Sports became the enduring image of the devastation. Robin Knight, a retail expert at restructuring firm Zolfo Cooper, said it was targeted because it is seen to "embody youth culture".

He said: "It has clearly positioned itself as a purveyor of very aspirational product amongst the UK's youth. Currys and Comet got raided because they sell high-value products but JD was very clearly in their minds as [the place] where they'd get the stuff they aspired to. JD has almost been a victim of its own success. It has worked hard to appeal to the youth market and when the country tipped into lawlessness, it still appealed to that market."

Branding experts are warning that the riots are a wake-up call for the fashion brands that JD Sports stocks. They have cultivated a "gangster chic" image and found themselves targeted by looters across the country. Mark Borkowski, a PR and branding expert, said that image was now coming back to haunt them.

Cantor Fitzgerald Buy 1,669.50 2,000.00 2,000.00 Reiterates

N+1 Singer Buy 1,669.50 - 2,000.00 Reiterates

Investec Buy 1,669.50 1,900.00 1,900.00 Reiterates

Half Yearly Report

Highlights

· Record result for the half year with group profit before tax and exceptional items doubled

· Positive momentum in the Sports fascias in all territories with like for like store sales growth across the combined European fascias of 13%

· Continued progress in Outdoor with like for like store sales growth of 12%

· Further management focus concentrated on Fashion fascias

· Strong like for like comparatives in the Sports fascias in the second half

· Interim dividend increased by 3.4% from 1.1125p to 1.1500p

· Sales, gross margin and operating profit / (loss) before exceptional items of the three business segments are tabulated below:

N+1 Singer Buy 425.40 408.00 500.00 500.00 Reiterates

Cantor Fitzgerald Buy 425.40 408.00 500.00 500.00 Reiterates

UPDATE 1 JD Sports lifts full – year outlook after record first half
17 Sep 2014 - 08:25

(Adds detail, shares)

LONDON, Sept 17 (Reuters) – British retailer JD Sports Fashion expects to post full-year results towards the upper end of market expectations after strong demand at its core sports division helped it to achieve record first-half trading.

Shares in the firm, which has the majority of its 850 stores in Britain but also trades in the Netherlands, Spain, France and Germany, rose 4.7 percent on Wednesday after the positive update.

JD Sports said its profit before tax and exceptional items doubled to 20 million pounds in the 26 weeks to Aug. 2, which it described as a record performance, on revenue up 27 percent to 721.5 million pounds.

It will pay an interim dividend of 1.15 pence, up 3.4 percent.

The firm said comparisons with the previous year are tougher in the second half than they had been in the first half and noted the full-year outcome will, as ever, be significantly dependent on Christmas trading.

Prior to Wednesday's update analysts were on average forecasting an underlying pretax profit for 2014-15 of about 83 million pounds, according to Reuters data, up from 77 million pounds in 2013-14.

Shares in JD Sports, up 66 percent over the last year, were up 19 pence at 426 pence at 0718 GMT, valuing the business at 832 million pounds.

First-half sales at stores open over a year in the group's core European sports division, which sells trainers and hoodies, rose 13 percent.

Like-for-like sales at its Blacks and Millets outdoor retail chains, bought from administrators for 20 million pounds over two years ago, increased 12 percent. The division broke even for the first time in the second half of 2013-14 after improvements to stores, operations and management.

But the group said its loss-making Banks and Scotts fashion division, where management has been overhauled, continued to disappoint, though trading did improve in the second quarter.

In May the firm announced that its Chief Executive Barry Bown had stepped down from the board after 30 years with the

company and would not be replaced. ...
The group's growth strategy has long been led by Executive Chairman Peter Cowgill, who also takes a key role in the day-to-day running of the company.

(Reporting by Kate Holton and James Davey; Editing by David Goodman and Karolin Schaps) ((kate.holton@thomsonreuters.com; 0044 207 542 8560; Reuters Messaging: kate.holton.thomsonreuters.com@reuters.net)

N+1 Singer Buy 425.40 408.00 500.00 500.00 Reiterates

Cantor Fitzgerald Buy 425.40 408.00 500.00 500.00 Reiterates

17 Sep 2014 JD Sports Fashion... JD. Investec Buy 435.20 408.00 475.00 475.00 Reiterates

JD Sports share price jumps 7 per cent as it posts record profits

by Billy Ehrenberg September 17, 2014, 7:54am

JD Sports posted record first-half results as its pre-tax profits soared, rising 170 per cent to £16.4m. (Source: Getty)
Shares in JD Sports rose seven per cent in mid-morning trading as the retailer posted record first-half results as its pre-tax profits soared, rising 170 per cent to £16.4m.

Revenue also jumped to £721.4m, an increase of 27 per cent.

The bulk of the growth was in the company's UK and European sectors.

Peter Cowgill, executive chairman, said the sports business was still a key driver of growth.

Our Sports operations continue to provide the engine for profit growth and cash generation in the Group and will therefore continue to be the primary focus of investment.

Cowgill identified the second half of the year as more challenging, but hoped JD would post full-year results towards the upper bounds of market expectations.

The Board recognises the demanding comparatives of the second half of the last financial year, particularly in the core UK and Ireland Sports fascias where like for like sales increased by 11.2 per cent, as well as our significant dependence on Christmas trading but following the robust performance of the business in the first half believes that the Group is well positioned to deliver results towards the upper end of current market expectations

September 17, 2014 8:48 am
JD Sports hails health of the high street with record results
By Andy Sharman and John Aglionby FT Times.


JD Sports has declared the high street “alive and well” after the British retailer delivered record first-half results.
The company’s core sports stores, including the Size? footwear chain, defied England’s early exit from the World Cup, helping group-wide sales rise by more than a quarter to £721m in the six months to the start of August.

Adjusted pre-tax profit doubled to almost £20m, prompting JD Sports to say it expected to deliver annual results at the top end of market expectations for £78m-£84m in adjusted income.
“The malls are attractive but the high street is alive and well in a number of areas,” Peter Cowgill, executive chairman, told BBC’s Today programme. “We’ve focused on creating a strong environment so it gives customers an exciting place to shop.”
However, Mr Cowgill, JD Sports’ executive chairman, said the company’s fashion stores continued to “disappoint”. Operating losses at the division, which includes the Bank and Ark outlets, increased in the period from £6.8m to £8.2m – though the Scotts chain was said to have “performed well”.
There was better news in the outdoor business, where operating losses narrowed from £8.9m to £5.6m, thanks to “considerable” progress at the Blacks and Millets brands.
JD Sports bought the chains out of administration in 2012 and has since installed dedicated management teams for the stores and sought to revamp their product ranges.
Freddie George, analyst at Cantor Fitzgerald, said: “The JD format, which has been strengthened over the past two years is clearly differentiated, and has significant potential to be developed overseas with the support of the international sports brands.
“We are also confident that the outdoor and fashion losses will either be markedly reduced over the next two years or . . . with respect to fashion, management will be under pressure to dispose of these activities.”
Longstanding chief executive Barry Bown stepped down from the company in May after 30 years at the group.

JD Sports Fashion Sports Impresses With Interim Profit As Sales Surge
LONDON (Alliance News) - Sports and fashion chain JD Sports Fashion PLC Wednesday sported an ...
Alliance News17 September, 2014 | 7:58AM

LONDON (Alliance News) - Sports and fashion chain JD Sports Fashion PLC Wednesday sported an impressive increase in its pretax profit for the first half of its financial year, as strong revenue growth was driven by another strong sales performance from its core UK sportswear business.
The sportswear, outdoor clothing and fashion retailer reported a pretax profit of GBP16.5 million for the six months to August 3, up from only GBP6.1 million a year earlier.
Its profit was driven by a 27% increase in revenue to GBP721.5 million, up from GBP567.4 million last year, after strong sportswear sales continued, and it was given a much-welcome boost by the build up to the football World Cup.
"Our sports operations continue to provide the engine for profit growth and cash generation in the group and will therefore continue to be the primary focus of investment," said Executive Chairman Peter Cowgill in a statement.
Alongside raising its interim dividend to 1.1500 pence per share, up from 1.1125 pence last year, the retailer gave a confident outlook for the remainder of the year, despite tough comparatives, saying it expects to deliver a profit an the top end of market expectations.
"The board recognises the demanding comparatives of the second half of the last financial year...as well as our significant dependence on Christmas trading but following the robust performance of the business in the first half believes that the group is well positioned to deliver results towards the upper end of current market expectations," said Cowgill.
Profit and sales growth in the company in recent years has been driven by its core sportswear business, including JD and its footwear stores Size?, while its fashion and outdoor businesses have been a drag.
The company said that besides its UK and European sports operations, its begun to see positive progress in its outdoor business, following major restructuring. However it said its fashion business, which includes brands Bank and Scott, continues to under perform and increased its trading losses.
"Fashion continues to disappoint, albeit trading more positively in the second quarter. The second half of the year is traditionally stronger for the fashion fascias," said Cowgill.
The retailer has also been expanding overseas, having recently acquired a package of stores in the Netherlands and Germany, while adding to its international offering in France and Spain.
"We have subsequently opened a further two stores in this country [Germany] and have increased our critical mass elsewhere with additional stores in the period in both France and the Netherlands. There will be further openings in all of our international territories in the second half," the company said.
Investec analyst Kate Calvert said the retailer's trading figures for the first half did not disappoint.
"Good numbers were expected post its first quarter trading update, but a 100% increase in first-half pretax profit results has exceeded expectations. This has been driven by Sports, which has had another strong footwear performance, and progress in Europe," said Calvert.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
Copyright 2014 Alliance News Limited. All Rights Reserved.
- See more at: hxxp://www.morningstar.co.uk/uk/news/AN_1410937092203265900/jd-sports-fashion-sports-impresses-with-interim-profit-as-sales-surge.aspx#sthash.pjqJkUhF.dpuf