JD Sports has raised its full year guidance following a surge in sales over the Christmas trading period.
The company said revenues in its organic retail businesses have strengthened throughout its second half with revenue growing by more than 10% in the 22 weeks to 31 December. This compares to an uplift of 5% in its first half period.
The company said sales were “impressive” both in-store and online in the six weeks to 31 December with revenue growth of more than 20%.
JD said it has been encouraged by the performance of its global premium sports fascias, especially in North America,
Due to its strong second half performance, JD now expects pre-tax profit before exceptional items for the year ended 28 January to be towards the top end of current market expectations, which range from £933 million to £985 million. However, the ultimate outturn will reflect trading through the remainder of January with the post-Christmas sale period.
At this time, assuming current exchange rates, JD estimates that its headline profit before tax and exceptional items for the year to 3 February 2024 will reach just over £1 billion.
