JD Sports Fashion Plc Christmas Trading Statement 2023 (3036M)
11 January 2023 - 6:00PM
UK Regulatory
TIDMJD.
RNS Number : 3036M
JD Sports Fashion Plc
11 January 2023
11 January 2023
JD Sports Fashion Plc
Trading Update
JD Sports Fashion Plc (the 'Group' or 'JD') today announces an
update on performance following the key Christmas trading
period.
The Group is pleased to report 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%, compared with growth of 5% 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, was particularly impressive with total revenue growth over
the six-week period to 31 December 2022 of more than 20%.
We are very encouraged by the performance of our global premium
sports fascias. Notably, our businesses in North America have, as
expected, recovered strongly delivering growth of more than 20%
through the second half to date. This improvement reflects both the
improved availability of product in all of our 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, our businesses in the UK and Republic of Ireland, Europe
and Asia Pacific have maintained their first half momentum, both in
stores and online, which is reassuring and demonstrates the ongoing
resilience of our proposition and the enduring strength of our
multi-channel consumer engagement.
The positive performance through the second half to date means
that we now expect 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 GBP933 million to GBP985 million. The ultimate outturn
will, however, reflect trading through the remainder of January
with the post-Christmas sale period still to take place in some of
our most important European markets.
Looking ahead, management are confident that consumers worldwide
are more attracted than ever to JD's differentiated proposition
with its attention-grabbing theatre in stores, advanced digital
technologies, breadth in the range of brands and availability of
key styles. Management firmly believe that the most significant
opportunities lie in the continued international multi-channel
development of the Group's sports fashion businesses and,
consequently, 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 the Group's operational
infrastructure ongoing.
At this time, assuming current exchange rates, we estimate that
the Group's headline profit before tax and exceptional items for
the full year to 3 February 2024 will be just over GBP1
billion.
The Group will shortly be commencing its year-end audit process
with this being the last year where KPMG LLP will report on the
results. The Group will make an announcement on the anticipated
timing for releasing this year's results in due course.
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."
Enquiries:
JD Sports Fashion Plc Tel: 0161 767 1000
Andy Higginson, Chair
Régis Schultz, Chief Executive Officer
Neil Greenhalgh, Chief Financial Officer
Alison Lees, Director of Investor Relations and Treasury
FGS Global Tel: 0207 251 3801
Rollo Head
Jenny Davey
James Thompson
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END
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