JD Sports has advised that revenues in its organic retail businesses have strengthened through the second half with total revenue growth for the 22 weeks to 31 December 2022 of more than 10 per cent, compared with growth of 5 per cent for the first half as reported in the Interim Results on 22 September 2022. The performance in these businesses through the Christmas period, both in stores and online, saw total revenue growth over the six-week period to 31 December 2022 of more than 20 per cent.
Its businesses in North America recovered strongly delivering growth of more than 20 per cent through the second half to date. This improvement reflected improved availability of product in all of its banners and the positive momentum in the development of the JD fascia with 134 stores now trading as JD across the United States and Canada. Elsewhere, its businesses in the UK and Republic of Ireland, Europe and Asia Pacific have maintained their first-half momentum, both in stores and online.
The business now expects the headline Group profit before tax and exceptional items for the year ended 28 January 2023 will be towards the top end of current published market expectations which range from £933 million to £985 million. The ultimate outturn, it says, will reflect trading through the remainder of January with the post-Christmas sale period still to take place in key European markets.
JD’s management believes that the most significant opportunities lie in the continued international multi-channel development of the Group’s sports fashion businesses and, as a result the Group will be accelerating its global investment in these businesses through 2023. The Group also remains committed to enhancing its service to consumers both in stores and online with the programme of works to upgrade its operational infrastructure ongoing.
Régis Schultz, CEO of JD, said: “The engagement and commitment of our teams through the peak trading period has been phenomenal with many of our stores and websites delivering record sales and JD’s market-leading product and retail experience capturing the imagination of customers globally like never before.
“Our strategic focus on the international and digital expansion of our global premium sports fascias is underpinned by the continued strength of these businesses.”