JD Sports Fashion Plc (JD.L) said, for the 22 weeks to 30 December 2023, constant currency organic revenue growth was 6.0% with like-for-like growth of 1.8%. The Group said this was slightly behind its expectations. The gross margin rate for the period was in line with last year, and was lower than the Group's expectations due to the elevated level of promotional activity during the peak trading period.
Regis Schultz, CEO of JD Sports Fashion Plc, said: "We have made good progress against our five-year strategic plan, delivering global organic revenue growth of 6% in the period, against very tough comparisons with last year, and opening over 200 new JD stores in the year."
JD Sports Fashion expects full year organic revenue growth to be approximately 8%. The Group now expects full-year gross margin rate will be slightly lower than last year. In terms of the full year ending 3 February 2024, the Group now estimates profit before tax and adjusted items will be between 915 million pounds and 935 million pounds.
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