JD to trump City expectations

JD Sports Fashion, the Bury-based retailer says it is on track to trump analysts’ expectations for the full year by around £10m.

The company, which has been one of the best-performing names on the high street for some time, said in a trading update that its sales had continued to grow and it now expects pre-tax profits to hit £135m for the year to the end of January.

JD, which has been expanding its overseas stores of late, and also innovating online too, last year grew annual profits by 22% to £100m.

The company, which said it has seen like-for-like sales growth of 10% in the first half, said “We are pleased to report that relatively strong trading has continued and, whilst recognising the critical importance of trading through the remainder of December and early January and also the further infrastructure cost increases during the year to support the increasing international development of the business, the board expects that the headline profit before tax and exceptional items for the current financial year is likely to exceed current consensus market expectations of £125m by £10m.”

JD’s stellar performance saw it win the Listed Business of the Year category at the 2015 North West Business Masters Awards.

Click here to download an entry form for this years awards