Advertisement

JD Sports Fashion sees annual profit at lower end of forecasts

Sportswear and outdoor clothing and equipment retailer JD Sports Fashion said it expects full year pre-tax profit to be towards the lower end of current market expectations after losses at its outdoor business.

Sportswear and outdoor clothing and equipment retailer JD Sports Fashion said it expects full year pre-tax profit to be towards the lower end of current market expectations after losses at its outdoor business.

Market expectations for headline profit before tax and exceptional items is currently £60m.

Executive Chairman Peter Cowgill commented: "Christmas 2012 has seen another very robust performance from our core Sports Fascias."

Advertisement - Article continues below

The core UK and Ireland JD Sports Fascias reported a 3.2% rise in like for like sales for the seven week period ended January 5th 2013 while margins for the year improved from the previous year.

However outdoor endured a disappointing festive season. "This was the result of the proposition bought into by the previous management team. All the key players in that team have been replaced very recently," JD said in a company statement.

JD added that both international development in the Sports Fascias and multichannel development throughout the group represent significant continuing growth opportunities. It said whilst the performance of outdoor has been disappointing, it remains confident that this business will produce future returns.

JD said trading in recent weeks has been the strongest we have seen for some time.

CJ

Advertisement
Advertisement

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

BP has slashed its dividend – and markets love it
Income investing

BP has slashed its dividend – and markets love it

BP has bowed to the inevitable and cut its dividend in half – and its share price promptly rose. John Stepek explains what it means for shareholders …
4 Aug 2020
Listed companies are dying out, and that could have serious consequences
Stockmarkets

Listed companies are dying out, and that could have serious consequences

Private equity is taking over from public stockmarkets as the biggest provider of capital to companies. That’s bad for investors and bad for society a…
3 Aug 2020
Can the recent rally in sterling continue?
Sponsored

Can the recent rally in sterling continue?

A "double top"  – a very recognisable pattern – is forming in in the US dollar. Dominic Frisby explains what it is, and what it could tell us about st…
3 Aug 2020