Trading Update and Timetable for Final Results

RNS Number : 1895L

JD Sports Fashion Plc

12 May 2022

 

12 May 2022

JD Sports Fashion Plc

Trading Update and Timetable for Announcing Final Results

JD Sports Fashion Plc ('JD' or the 'Group'), the leading retailer of sports, fashion and outdoor brands, today announces an update on its performance in the first 14 weeks of the new financial year covering the period to 7 May 2022.

The Group is reassured with the trading to date with total sales in the Group's like for like businesses more than 5% higher than the same period in the prior year. This performance is a positive reflection of both the strength and breadth of the Group's brand relationships and category offer. It has also been achieved against a backdrop of a global shortfall in the supply of certain key footwear styles which we expect to improve progressively through the year.

Whilst we are pleased with the trading to date, which is at least in line with the Group's expectations, we remain conscious of the headwinds that prevail at this time including the general global macro-economic and geopolitical situation.

Notwithstanding these challenges, the Board still believe that the headline profit before tax and exceptional items for the year end 28 January 2023 will at least be equal to that for the year ended 29 January 2022 which, after finalising certain year end accounting positions including the calculation of leases under IFRS16, is now expected to be approximately £940 million.

The Group anticipates being in a position to announce its full year results for the year ended 29 January 2022 in early to mid-June and will confirm the final date in due course.

Enquiries:

JD Sports Fashion Plc  Tel:  [phone]

Peter Cowgill, Executive Chairman

Neil Greenhalgh, Chief Financial Officer

Jennifer Iveson, Investor Relations

MHP Communications  Tel:  [phone]

Andrew Jaques

Peter Hewer

Charles Hirst

Catherine Chapman

 

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