JD Sports upgrades profit expectations as Christmas sales soar

For the 22 weeks to December 31, JD Sports reported that total sales grew 10% for the period – double the 5% growth reported in the first half of the year in its interim results. Over the six weeks of the festive period, JD Sports revenues were up 20% year on year. 

JD Sports’ international businesses also delivered strong growth in the second half. The retailer noted its North American arm, in particular, which delivered 20% sales growth for the period driven by improved availability and a pipeline of new store openings in the region. 

The UK and Ireland, Europe and Asia Pacific all “maintained their first-half momentum” both in-store and online in the second half of the year. 

As a result, JD Sports said it now expects profits for the year ending January 28 to come in between £933m and £985m – the top end of previous expectations. 

JD Sports said it was “confident that consumers worldwide are more attracted than ever” to its offering and would focus on seizing “significant opportunities” in developing its multichannel proposition in international markets. 

The group said it expected profits for the 2024 full year to top £1bn, assuming current exchange rates. 

New JD Sports chief executive Régis Schultz 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 and JD’s market-leading product and retail experience 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.” 

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