JD’s sports stores raise sales by 8.4%, but the outlook is dim

JD Sports Fashion is “extremely cautious” about the British retail environment after the country's value-added tax (VAT) was increased to 20.0 percent from 17.5 percent on Jan. 4, 2011. The VAT rise is taking place at a critical time when product costs, especially for imported goods, have become materially higher, ...