JD Sports raises profit guidance following ‘robust’ Christmas

The sporting goods retailer said revenues were up “more than 10%” in the 22 week period to January 1, compared with the same period in 2020.

JD Sports added that it had an “equally positive” performance across both Black Friday and Christmas.

The retailer has therefore raised its profit expectations for the full year to January 29 from £810m to £875m.

It added that it benefitted from the fiscal stimulus in the US in the first half of the year, where the government fuelled consumer spending by giving money to lower-income households – this contributed £100m to its total profit.

JD Sports said that while it has some constraints on goods from certain suppliers, its position within the market in terms of buying and merchandising capabilities means it will be able to weather the storm.

Executive chair Peter Cowgill said: “The commitment of our colleagues is crucial to our success and I would like to thank everyone in our various businesses for their significant contribution in delivering this outstanding performance.”