JD Sports to beat market expectations after strong Christmas
JD Sports has said it is expects its pre-tax profit for the full year to exceed the top end of market expectations following a strong rise in sales over the Christmas trading period.
In the five weeks to 3 January, the retailer’s like-for-like sales grew by 12%.
JD Sports said this was particularly pleasing given the strong comparatives of the previous year.
As a result, cumulative like-for-like sales growth for the 48 weeks to 3 January is now 12%.
Market expectations for the retailer’s financial year ending 31 January currently range up to £90 million.
JD Sports executive chairman Peter Cowgill said: "I am delighted to be able to report that the great momentum I reported in the sports fascias in all our territories earlier in the financial year has been maintained during the key Christmas period, particularly when measured against strong comparatives in prior years.
“This result is testimony to the strength of the JD brand and its commitment to providing its customers with unrivalled choice, quality and excitement as the leading retailer of sports fashion."
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