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JD Sports Fashion 22-week Revenue Up; Sees FY Headline Pre-tax Profit Ahead Of Market

JD Sports Fashion Plc (JD.L), a retailer of sports, fashion and outdoor brands, Monday said its total revenues for the twenty two week period to January 2, 2021 in like for like businesses were more than 5% higher from last year.

Looking ahead, the company said it is now confident that Group headline profit before tax for the full year to January 30 will be significantly ahead of the current market expectations, which average approximately 295 million pounds.

It is now anticipated that the outturn for the full year will be at least 400 million pounds.

In its update on performance following the Christmas trading period, the company noted that consumers readily switched between physical and digital channels.

Amid further forced temporary store closures in many of global territories, the company reported that demand has remained robust throughout the second half, including in the key months of November and December.

Further ahead, the company expects that operational restrictions from the COVID-19 pandemic will be a material factor through at least the first quarter of the year to January 29, 2022.

The company said, "Under normal circumstances, we would be confident that the results for the forthcoming year to 29 January 2022 would show a strong improvement on the current year. However, given the ongoing uncertain outlook with stores in the UK likely to be closed until at least Easter and closures in other countries possible at any time, our current best estimate is that the Group headline profit before tax for the full year to 29 January 2022 will be 5% to 10% ahead of the current year."

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