GRAHAM HISCOTT ‘High Street is not dead’ Shops still crucial says JD Sports

THE boss of trainer chain JD Sports yesterday insisted Britain’s high streets are “not dead”.

Peter Cowgill said stores were vital to his firm’s success – because people still like the “social nature” of going shopping.

It came as JD, which yesterday overtook Marks & Spencer by stock market value, reported record half-year results, with sales surging 35% to £1.8billion.

Many high street chains have had a dismal 2018 due to rising costs and online competition.

Debenhams was this week forced to reassure investors amid speculation it is preparing to close a wave of stores.

But JD, which has 390 outlets in the UK and Ireland and nearly 2,200 sports and fashion shops worldwide, has managed to buck the trend.

Executive chairman Cowgill said its success was due to “staying focused” on what customers wanted.

It claims to have the edge on rivals with the latest trainer designs, including many which are exclusive.

Cowgill said the “often social nature of

The number of people in work increased by just 3,000 in the three months to July.

Figures from the Office for National Statistics showed there were 32.4 million workers – barely up over the quarter, but 261,000 more than a year ago.

Growth in the past three months came entirely from workers aged 65 and over, up consumers’ shopping trips”, combined with the “impulsive nature of their buying decisions”, meant its stores were still important.

Shops also helped with “brand awareness” and people’s “desire to see, handle and try the product,” he added.

Cowgill told the Mirror: “It isn’t our intention to reduce the number of stores.”

He insisted the high street “isn’t dead because of the number of people we get through our doors”.

However, he called on action to reduce the cost of business rates.

The group’s profits increased by 19% to £122million in the six months to the end of July.

JD’S camping and hiking chains, Blacks and Go Outdoors, endured a more mixed six months which it blamed on the weather.

But the group’s results included a boost from US chain Finish Line, which it bought in June for £428million.

The firm is trialling its JD format in the US as part of a global push. It opened 39 stores abroad in the six-month period.

by 38,000. The number aged 16 to 64 fell by 35,000. The ONS data also showed a pick-up in wages.

But a rise in inflation meant the average worker saw their weekly pay go up just 0.5% in real terms. Unemployment fell by 55,000 over the past quarter to 1.36 million.

Meanwhile, the number of job vacancies rose 14,000 to 833,000, a record high.

Budget grocer Lidl launches a new fashion collection by super model Heidi Klum this Sunday – with prices from just £1.99.The autumn range is the fifth Klum, 45, has designed for the German giant.Lidl reckons a £14.99 trenchcoat, available in beige or berry, will be one of its top sellers.The 11-piece collection includes shoes, cardigans and jeans, with prices starting at £1.99 for a pair oftights. Pub giant JD Wetherspoon is cutting the price of all its food and drinks by 7.5% tomorrow. The promotion is part of Tax Equality Day which aims to highlight the benefit of a VAT reduction in the hospitality industry. Prices at the chain’s 880 pubs will be reduced for one day only. BIG VALUE Heidi Klum models her latest range

The firm behind Innocent smoothies enjoyed a 22% leap in sales last year.Fresh Trading’s turnover hit a record £370million, with operating profits up from £3.1m to £4m.The company, which donates 10% of its profits to charity, said in its accounts:“We delivered more than one billion portions of fruit and vegetables to our drinkers.”

EXPANSION Sir Jim Ratcliffe

SUCCESS Peter Cowgill