Jingle tills as sports fashion firm’s profits head towards £300m

Bury-based JD Sports Fashion is celebrating a bumper Christmas period which means its year-end pre-tax profits are on course to hit £300m.

The listed company said initial expectations for the year ending on February 3 were for profits of between £270m to £295m, but this had now been revised upwards.

A statement today said “positive levels of performance” announced in the company’s interim results statement had continued through the second half of the year, including the “key Christmas period”.

Like for like store sales in the second half to date across the Group’s combined Sports and Outdoor fascias, including those in Europe, have been maintained at approximately 3% with additional sales growth arising from both material growth in online trade and continuing overseas space expansion.

Executive chairman Peter Cowgill said: “I am delighted to report that we have maintained our positive performance from the first half of the year which continues to demonstrate the capability and strength of our highly differentiated multichannel proposition.

“On behalf of the board, I would like to thank all our colleagues for their significant contribution in delivering this excellent performance.”