16th Jan 2015 07:12
LONDON (Alliance News) - JD Sports Fashion PLC on Friday said it expects its pretax profit for the year to the end of January to come in ahead of market expectations following a rise in sales over the Christmas period.
The FTSE 250-listed retailer said like-for-like sales rose 12% in the five weeks to January 3, noting the rise comes against strong comparative figures in the year-earlier period. As a result, cumulative like-for-like sales growth in the 48 weeks to January 3 is now at 12%, JD Sports said.
On the basis of this, the company said it is now confident it will post headline pretax profit for the year to January 31 above the top end of market expectations. At present, the top end of market expectations for the company's pretax profit is GBP90 million, according to JD Sports.
It said it will post its full-year results on April 15.
"I am delighted to be able to report that the great momentum I reported in the Sports Fascias in all our territories earlier in the financial year has been maintained during the key Christmas period, particularly when measured against strong comparatives in prior years," said Executive Chairman Peter Cowgill.
By Sam Unsted; [email protected]; @SamUAtAlliance
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