JD Sports has said that profits will exceed the top end of market expectations for the full year after reporting strong Christmas sales.
In the five weeks to January 3rd, like-for-like sales growth was 12%, which the company called “particularly pleasing” given strong comparatives the previous year. Cumulative like-for-like sales growth for the 48 week period to 3rd January 2015 is now also 12%.
On the basis of this, the group said that it was “confident” that profits would exceed the upper end of expectations for the financial year, currently at £90 million.
Peter Cowgill, executive chairman, commented: "I am delighted to be able to report that the great momentum I reported in the Sports Fascias in all our territories earlier in the financial year has been maintained during the key Christmas period, particularly when measured against strong comparatives in prior years. This result is testimony to the strength of the JD Brand and its commitment to providing its customers with unrivalled choice, quality and excitement as the leading retailer of Sports Fashion.
“On behalf of the board I would like to thank our entire team for their continued hard work and significant contribution towards this success."
