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JD Sports maintains full-year profit guidance despite challenging market
Source: Mintel 28-03-2024

UK 28-03-2024

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JD Sports has maintained its full-year profit guidance, with adjusted pre-tax profit expected to be in the range of £915 million to £935 million.

Total sales grew 3.6% to £10.5 billion in the 53 weeks to 3 February, with like-for-like sales up 4.2% and organic sales jumping 8.4%. However, in the UK and Ireland, final quarter sales slipped by 3.2% due to a "weaker" apparel performance against footwear and a decision "not to participate fully in the significant, mainly online, promotional activity within the UK". JD Sports said trading at the start of the new financial year has been "in line with expectations". It expects pre-tax profit for the year to fall between £900 million and £980 million, with like-for-like and organic sales growth expected to rise between 1% and 4%, and 6% and 9% respectively.