JD Sports remains cautious despite uplift in sales

JD Sports
// JD Sports total sales in the group’s like-for-like businesses increased 5% year on year
// JD Sports said it achieved the uplift despite global supply chain issues impacting certain key footwear styles

JD Sports remains cautious despite a rise in total sales at the start of its new financial year.

The retailer said it was “reassured with the trading to date” in the 14 weeks to May 7, when total sales in the group’s like-for-like businesses increased 5% year on year.

JD Sports said it achieved the uplift despite global supply chain issues impacting certain key footwear styles, although it expects the situation to improve progressively throughout the year.


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“It has also been achieved against a backdrop of a global shortfall in the supply of certain key footwear styles which we expect to improve progressively through the year,” JD Sports said.

”Whilst we are pleased with the trading to date, which is at least in line with the group’s expectations, we remain conscious of the headwinds that prevail at this time including the general global macro-economic and geopolitical situation.”

JD said that “notwithstanding these challenges” it still expects headline profit before tax and exceptional items for the new financial year to ”at least be equal” to that for the year just ended, which is anticipated to come in at approximately £940 million.

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