// JD Sports reports positive Christmas sales despite “retail challenges”
// Annual profits are now expected to be at the higher end of forecasts
JD Sports has reported a like-for-like Christmas sales growth against the “backdrop of widely reported retail challenges in the UK market”.
The sportswear retailer said it expects annual profits to be at the higher end of forecasts after posting “encouraging” sales growth over the festive period.
Although JD Sports did not give exact figures, it said it “remains confident” that full-year profit before tax will fall in the upper range of between £403 million to £433 million.
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The retailer also said that its international business was of “increasing significance” in its overall results.
“We remain confident that the full year group headline profit before tax will be in the upper quartile of current market expectations which, after adjusting for the impact of the transition to IFRS 16, range from £403 million to £433 million,” JD Sports said.
JD Sports will publish the preliminary results for the year ended February 1 in April.