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JD Sports has raised its full-year guidance after a “particularly impressive” business performance over the Christmas period, both in stores and online, as retail revenue over the period grew 20%.
As a result, JD now expects its profit before tax and exceptional items for the year ending 28 January 2023 to be at the top end of current market expectations, ranging from £933m to £985m.
In addition, the sportswear retailer’s revenues have “strengthened” through the second half to 22 December 2022, with total revenue growth increasing more than 10% compared with the 5% growth during the first half of 2022.
The group estimates that its headline profit before tax and exceptional items for the full year to 3 February 2024 to be just over £1bn.
Régis Schultz, CEO of JD Sports, said: “The engagement and commitment of our teams through the peak trading period has been phenomenal, with many of our stores and websites delivering record sales. JD’s market-leading product and retail experience are capturing the imagination of customers globally like never before.
“Our strategic focus on the international and digital expansion of our global premium sports fascias is underpinned by the continued strength of these businesses.”
