UK's JD Sports raises profit forecast

By

Cajsa Lykke Carlson

Published
Dec 3, 2015

British sports retail giant JD Sports just announced that it expects its headline profits for the current financial year to exceed market expectations of £125m.

The company now expects profits to reach £135m. In September, the retailer said it had seen an "exceptional performance" for the 26 week period to August 1. Like-for-like sales growth in that period exceeded 10% in all group fascias.

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JD Sports said it was pleased to report that "relatively" strong trading has continued since then, and that it has therefore raised the forecast, whilst recognising the critical importance of trading through the remainder of December and early January and also the further infrastructure cost increases during the year to support the increasing international development of the business. It will issue its post-Christmas trading update on January 14.