Saturday 19 October 2019

JD Sports on track to match profit expectations

Photo: PA
Photo: PA Business Desk

JD Sports has said it is on track to at least match its profit expectations for the year, on the back of a raft of new store openings.

The sportswear retailer said it has seen "encouraging" like-for-like sales in the year to date, driven by growth in its fashion brand in the UK and internationally.

The announcement comes ahead of the firm's annual general meeting today, where JD Sports faces the prospect of investor scrutiny over executive chairman Peter Cowgill's £6m (€6.7m)  bonus.

Peter Cowgill, executive chairman of JD Sports, said: "On April 16 2019, the group announced results for the year ended February 2 which represented a further record performance for the group.

"We are now pleased to report that in the year to date we have continued to achieve encouraging like-for-like sales growth in our core sports fashion fascias both in the UK and internationally.

"The board remains confident that the group continues to be on track to deliver headline profit before tax for the full year at least equal to current consensus market expectations."

PA Media

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