UK's JD Sports expects PBT for 2022 to be nearly £875 million

“Given the challenges that have prevailed from the COVID-19 pandemic, including the disruption of the supply chain operations of some of our key brand partners, this is another extremely robust performance which further demonstrates the strength of the relationship that our fascias have with their consumers, the agility of our multichannel operations, the strength of our operational infrastructure and the resilience of our colleagues,” JD Sports Fashion said in a press release.

Total revenues for the twenty-two week period to January 1, 2022 in the group's like for like businesses were more than 10 per cent ahead of the same period in 2020 with an equally positive performance across the Black Friday and Christmas period.

“At this time, assuming no further trading restrictions in our most material markets of the UK and North America, absorbing the additional statutory costs of employment in the UK and reflecting the benefit that accrued from the financial stimulus in the United States in the current year, our best estimate is that the group headline profit before tax for the full year to 28 January 2023 will be in line with the current year, which is ahead of current market expectations for the 2023 financial year.,” the release added.

"The commitment of our colleagues is crucial to our success and I would like to thank everyone in our various businesses for their significant contribution in delivering this outstanding performance," Peter Cowgill, executive chairman, said.

Fibre2Fashion News Desk (RR)