JD Sports confident of profit performance
JD Sports Fashion has said its full year group pre-tax profit is likely to come in within the upper range market expectations despite retail challenges in its core UK market.
In a statement, the company said: “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 also said it has seen “positive like-for-like trends” over the Christmas trading period in its global sports fashion fascias, particularly overseas.
It added: “Given the increasing significance of our international businesses in the overall group result, and the fact that there is a differentiated timing of the post-Christmas sale period in a number of our key overseas markets, the ultimate outturn will reflect trading in these markets through the remainder of January.”
