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.
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