Information  X 
Enter a valid email address

JD Sports Fashion (JD)

  Print      Mail a friend

Monday 11 January, 2021

JD Sports Fashion

Trading Update

RNS Number : 1548L
JD Sports Fashion Plc
11 January 2021
 

11 January 2021

JD Sports Fashion Plc

Trading Update

JD Sports Fashion Plc (the 'Group') today announces an update on performance following the Christmas trading period.

Against a backdrop of further forced temporary store closures in many of our global territories, it is pleasing to report that demand has remained robust throughout the second half, including in the key months of November and December. Total revenues for the twenty two week period to 2 January 2021 in the Group's like for like businesses were more than 5% ahead of the prior year as consumers readily switched between physical and digital channels.

The positive nature of the demand through the second half to date means that we are now confident that the Group headline profit before tax for the full year to 30 January 2021 will be significantly ahead of the current market expectations, which average approximately £295 million. It is now anticipated that the outturn for the full year will be at least £400 million.

Looking ahead, it is clear that operational restrictions from the COVID-19 pandemic will also be a material factor through at least the first quarter of the year to 29 January 2022. Whilst we are confident that we have the proposition to continue to attract consumers throughout this period, the process to scale down activity in stores and scale up the digital channels, often at extremely short notice, presents significant challenges. We are indebted to all of our colleagues in our different territories who have had to adopt new ways of working.

Under normal circumstances, we would be confident that the results for the forthcoming year to 29 January 2022 would show a strong improvement on the current year. However, given the ongoing uncertain outlook with stores in the UK likely to be closed until at least Easter and closures in other countries possible at any time, our current best estimate is that the Group headline profit before tax for the full year to 29 January 2022 will be 5% to 10% ahead of the current year.

We intend to provide our next update on trading in the Group's preliminary results for the year ended 30 January 2021 which will be published on 13 April 2021.

 

Enquiries:

 

JD Sports Fashion Plc  Tel:  0161 767 1000

Peter Cowgill, Executive Chairman

Neil Greenhalgh, Chief Financial Officer

Jennifer Iveson, Investor Relations

 

MHP Communications  Tel:  0203 128 8193

Andrew Jaques

Giles Robinson

Charles Hirst

Catherine Chapman

 

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulations (EU) No. 596/2014 ("MAR") and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
TSTURSURAKUAAAR

a d v e r t i s e m e n t