• Full-year profits expected to be up around 15% on market expectations 
  • Like-for-like sales growth of 10% maintained in second half
  • Boss Peter Cowgill hails “excellent momentum”

JD Sports expects its full-year earnings to beat market expectations by up to 15% after continued strong trading in its second half.

JD Sports' new flagship store on Oxford Street

JD Sports

JD Sports’ flagship store on Oxford Street

The sportswear retailer said “positive” trading had continued throughout its second half, with like-for-likes remaining around 10% up on last year.

“This is a particularly pleasing performance given the very strong like-for-like growth achieved in the previous three years,” the group said.

JD Sports, which is in the process of acquiring Go Outdoors, said it expects full-year pre-tax profits to exceed market expectations of ÂŁ200m by up to 15%.

Boss Peter Cowgill said: “Whilst we acknowledge that it would be unreasonable to expect like-for-like sales growth to be maintained at recent levels for a fifth consecutive year, we are confident that both domestically and internationally, our unique and often exclusive sports fashion premium brand offer provides a solid foundation for future development.”

Broker Peel Hunt said in a note: “JD continues to defy even the toughest of comparatives. Like-for-likes actually accelerated in its second-half, a quite remarkable achievement.”

The retailer launched an investigation last month into working practices at its main Rochdale warehouse following allegations of harsh conditions.

Topics