JD Sports Fashion said it had outperformed a challenging market and anticipated trading conditions will improve over the year.
The sportswear retailer said that it expects profits to be in line with its previous guidance of between £915m and £935m before tax and adjusted items in the year to early February. It came despite a tough January when the business said it had to cope with “elevated promotional activity”. The company “chose not to participate fully” in these sales in the UK and Ireland, which were mainly online. As a result like-for-like sales fell by 3.2 per cent in the region in the fourth quarter.
I am excited about the opportunities for the JD Group going forward and our ability to deliver attractive returns to shareholders.' Julie Palmer, partner at Begbies Traynor, said the update from JD Sports provides further evidence that UK retailers are still battling against challenging macroeconomic conditions and cautious consumer spending.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stylish fashion retailer opened pop-up in Glasgow M&SA stylish fashion retailer has opened a pop-up within a Glasgow M&S store.
Read more »
Fashion retailer shut store near Glasgow for final timeA fashion retail giant has sadly shut down its store near Glasgow for the final time.
Read more »
Cisco is a fashion retailer now, with a spring collection to prove itPromises quarterly lookbooks of branded tat, powered by branded kit
Read more »
White Rose Leeds: First look at new state-of-the-art Footasylum shop opening at shopping centreA new, upsized store for sports retailer Footasylum has opened in Leeds.
Read more »
Ted Baker to go into administration with hundreds of jobs at riskThe US owner of Ted Baker said it plans to appoint administrators for the fashion retailer
Read more »
Major retailer to unveil 'new look' for East Kilbride storeA major retailer is set to unveil a new look for its East Kilbride store.
Read more »