JD Sports Fashion Plc Trading Update (1548L)
11 Enero 2021 - 1:00AM
UK Regulatory
TIDMJD.
RNS Number : 1548L
JD Sports Fashion Plc
11 January 2021
11 January 2021
JD Sports Fashion Plc
Trading Update
JD Sports Fashion Plc (the 'Group') today announces an update on
performance following the Christmas trading period.
Against a backdrop of further forced temporary store closures in
many of our global territories, it is pleasing to report that
demand has remained robust throughout the second half, including in
the key months of November and December. Total revenues for the
twenty two week period to 2 January 2021 in the Group's like for
like businesses were more than 5% ahead of the prior year as
consumers readily switched between physical and digital
channels.
The positive nature of the demand through the second half to
date means that we are now confident that the Group headline profit
before tax for the full year to 30 January 2021 will be
significantly ahead of the current market expectations, which
average approximately GBP295 million. It is now anticipated that
the outturn for the full year will be at least GBP400 million.
Looking ahead, it is clear that operational restrictions from
the COVID-19 pandemic will also be a material factor through at
least the first quarter of the year to 29 January 2022. Whilst we
are confident that we have the proposition to continue to attract
consumers throughout this period, the process to scale down
activity in stores and scale up the digital channels, often at
extremely short notice, presents significant challenges. We are
indebted to all of our colleagues in our different territories who
have had to adopt new ways of working.
Under normal circumstances, we would be confident that the
results for the forthcoming year to 29 January 2022 would show a
strong improvement on the current year. However, given the ongoing
uncertain outlook with stores in the UK likely to be closed until
at least Easter and closures in other countries possible at any
time, our current best estimate is that the Group headline profit
before tax for the full year to 29 January 2022 will be 5% to 10%
ahead of the current year.
We intend to provide our next update on trading in the Group's
preliminary results for the year ended 30 January 2021 which will
be published on 13 April 2021.
Enquiries:
JD Sports Fashion Plc Tel: 0161 767 1000
Peter Cowgill, Executive Chairman
Neil Greenhalgh, Chief Financial Officer
Jennifer Iveson, Investor Relations
MHP Communications Tel: 0203 128 8193
Andrew Jaques
Giles Robinson
Charles Hirst
Catherine Chapman
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulations (EU) No. 596/2014
("MAR") and is disclosed in accordance with the Company's
obligations under Article 17 of MAR.
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END
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