JD Sports raises profit forecast
Sportswear retailer JD Sports has upgraded its profit forecast after seeing its like-for-like sales growth maintained at around 3% in its second half to date.
In a statement, the company said the positive performance announced in its interim results had continued through the second half, including the Christmas trading period.
As a result, JD Sports now expects its headline pre-tax for the year ended 3 February to reach around £300 million compared to previous market expectations of between £270 million to £295 million.
The company said it is pleased with the momentum seen in its international business, which forms a fundamental part of its growth strategy, and with progress made in its outdoor fascias.
Peter Cowgill, JD Sports executive chairman, added: "I am delighted to report that we have maintained our positive performance from the first half of the year which continues to demonstrate the capability and strength of our highly differentiated multichannel proposition.”
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