Christmas boost, but JD Sports remains cautious
Retail group JD Sports said it achieved strong sales over the Christmas period, with December revenues up by 3.4% year on year. But it said in an update that market headwinds were higher than anticipated and that its full-year profit forecast is “slightly below our previous guidance”.
Other details it shared in the post-Christmas update included footwear outperforming apparel, and sales in stores outperforming online sales.
JD Sports’ business year closes around the end of January. It usually reports confirmed full-year results in May. But it said it would provide another update in March.
Chief executive, Régis Schultz, said that with challenging trading conditions expected to continue, JD Sports is taking a cautious view of the new financial year.
