JD predicts 'tough Christmas'

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The chairman of JD Sports Fashion has forecast a "tough Christmas" after posting a dip in underlying sales for its most recent trading period.

Peter Cowgill said: "All retailers are saying it is going to be fairly tough so I don't want to be the one to hold my hand up and say, 'they have got it wrong'."

In addition to lower footfall on the high street and retail parks, he said the warm autumn weather had hit purchases of jackets. The group's like-for-like sales fell by 1.5 per cent over the 16 weeks to 19 November.

Shares in JD fell by 55p, or 7 per cent, to 760p yesterday.