Tuesday, February 18, 2020

JD Sports set to beat full year expectations


In a trading update on Thursday, JD Sports announced that its strong trading in the 26 weeks to 1 August had continued through the year.

The sports retailer‘s interim results earlier this year highlighted increases in like-for-like sales across the entire group, including its stores in Europe which had risen by more than 10% in the first half of the financial year. Increased demand allowed the group to achieve a considerable 82% in first-half profit.

Furthermore, shares in the company, which also owns outdoor retailers such as Blacks and Scotts, saw a rise of more than 2% after its recent announcement.

JD Sports said: “We are pleased to report that relatively strong trading has continued and, whilst recognising the critical importance of trading through the remainder of December and early January and also the further infrastructure cost increases during the year to support the increasing international development of the business.”

Its financial profit before tax and exceptional items this year has left the group confident that it will exceed market expectations of £125m by £10m. JD Sports will announce its post-Christmas trading results on 14 January 2016.