JD Sports on track and expects to meet profit forecast
JD Sports Fashion has announced that the positive performance seen in the first four months of its new financial year continued throughout June.
In a statement ahead of its AGM, the retailer said this means that total sales in the group’s like-for-like businesses in the first five months of the year remain 5% ahead of the prior 12-month period, which ended on 29 January.
At this stage, JD Sports is maintaining its view that headline pre-tax profit before exceptional items for the current financial year will be in line with the record performance of the previous year.
It also expects the phasing of profit to reflect a more “normalised” trading pattern with approximately 35% to 40% of profits generated in the first half.
JD Sports said its recently appointed chair Andy Higginson has become fully involved in the recruitment of a new group chief executive, the process for which is ongoing.
