JD Sports Fashion sees 2023 profit at the higher end of expectations … – Morningstar


By Kyle Morris

JD Sports Fashion PLC said Wednesday that it expects to report fiscal 2023 adjusted pretax profit toward the top end of market expectations after it booked a strong performance during the Christmas period.

The sports-and-fashion retailer said that for the fiscal year ending Jan. 28 it expects to report adjusted pretax profit in a range from 933 million to 985 million pounds ($1.13 billion-$1.20 billion).

Total revenue growth for the 22 weeks to Dec. 31 was more than 10%, compared with growth of 5% for the first half, it said. Performance through Christmas was particularly impressive, it said, with total revenue growth over the six-week period to Dec. 31 of more than 20%.

North America recovered strongly, delivering growth of more than 20% through the second half to date, it said.

For fiscal 2024, the company sees adjusted pretax profit of just over GBP1 billion.

Write to Kyle Morris at kyle.morris@dowjones.com

-Kyle Morris


(END) Dow Jones Newswires

01-11-23 0314ET

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