JD Sports upbeat on profit as consumers spend more during holidays

Written by on January 12, 2022

January 12, 2022

(Reuters) – JD Sports Fashion on Wednesday raised its full-year profit forecast ahead of market expectations, benefiting from robust demand during the Black Friday and Christmas period, and as U.S. consumers spent more on apparels.

Britain’s biggest sportswear retailer, which sells brands such as Nike, Adidas and Puma in its physical and online stores, expects headline pretax profit of at least 875 million pounds ($1.19 billion) for the year to Jan. 29, ahead of current market expectations of 810 million pounds.

It had earlier forecast annual headline pretax profit of at least 750 million pounds.

($1 = 0.7336 pounds)

(Reporting by Muhammed Husain and Yadarisa Shabong in Bengaluru; Editing by Subhranshu Sahu)

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