Jan 10, 2020

JD Sports predicts full-year profit within top band of forecasts

JD Sports Fashion said it expects profit for the year to February to be "Within the top quartile" of forecasts but that the ultimate result will depend on trading in overseas markets during January. "Against a backdrop of widely reported retail challenges in the group's core UK market, it is encouraging to report positive like-for-like trends in the global sports fashion fascias, particularly overseas," it said in a statement, without providing a figure for UK sales growth. The group on Friday said that the timing of post-Christmas sales was different in some of its markets, which include France, Spain, Sweden, Australia and South Korea. In the group's most recent financial year, revenue from its overseas operations surpassed that of the UK business for the first time, following the 2018 acquisition of Finish Line in the US. Five years ago, overseas revenue was less than a fifth of the total. The group's market capitalisation is just over £8bn..

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