JD Sports maintains sales growth, raises profit guidance
Sports, leisurewear and outdoor retailer JD Sports Fashion was one of the winners in UK retail over the Christmas trading period with the company saying on Tuesday that its strong first half trading didn’t slow down in the second half, unlike many of its retail peers.
In a statement that was short on in-depth details, it said that “positive levels of performance have continued through the second half, including the key Christmas period.”
Comparable stores sales were maintained at around 3%, which is certainly a strong figure given the tough Christmas that many store chains endured.
JD also said that it has seen “additional sales growth arising from both material growth in online trade and continuing overseas space expansion.” And it added: “The performance is particularly encouraging when considered against the challenging comparatives provided by the significant levels of sales increases achieved in each of the last three years.”
Both its Sports Fashion and Outdoors chain are “maintaining positive progress,” it said.
International expansion is a key part of the firm’s growth strategy and it added Tuesday that it remains “pleased with the continuing momentum of our international business.”
All of that meant it was able to raise its profit guidance with headline group pre-tax profit for the year to 3 February now set to reach around £300 million, up from previous guidance of between £270 million and £295 million.
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