JD Sports Fashion maintains 'positive performance'
JD Sports Fashion, owner of JD and Tessuti, has predicted its annual profit will be in line with expectations following after a "positive performance" in June 2022.
Last month, the company said it was reassured by trading in the first four months of the year with total sales in the group's like-for-like businesses 5% ahead of the prior year.
JD Sports Fashion has now revealed this performance has continued throughout June, with total sales remaining 5% ahead after five months.
The group maintains its view that that headline profit before tax and exceptional items for the year ending 28 January 2023 will be in line with the performance of the financial year previous.
It also expects that the phasing of profit in the current year will reflect a more normalised trading pattern with approximately 35% to 40% of profits generated in the first half.
JD Sports Fashion appointed Andy Higginson as Chair on 11 July 2022. Whilst a new group CEO has not yet been announced, Kath Smith continues in the role of Interim CEO.
The trading update follows the news that JD Sports Fashion is in exclusive negotiations to sell Footasylum to private equity firm Aurelius Group, following an order from the Competition and Markets Authority to sell the business.
