# JD Sports revenues in its organic retail businesses have strengthened through H2

- Link: https://www.directorstalkinterviews.com/jd-sports-revenues-in-its-organic-retail-businesses-have-strengthened-through-h2/4121097283
- Published: 2023-01-11T07:19:52+00:00
- Author: Amilia Stone

**[JD Sports Fashion Plc](https://www.directorstalkinterviews.com/ftse-company/jd-sports-fashion/jd.l)**(
LON:JD’) has announced an update on performance following the key Christmas trading
period.

The Group is pleased to report that revenues in its organic retail businesses have
strengthened through the second half with total revenue growth for the 22 weeks 
to 31 December 2022 of more than 10%, compared with growth of 5% for the first half
as reported in the Interim Results on 22 September 2022. The performance in these
businesses through the Christmas period, both in stores and online, was particularly
impressive with total revenue growth over the six-week period to 31 December 2022
of more than 20%.

We are very encouraged by the performance of our global premium sports fascias. 
Notably, our businesses in North America have, as expected, recovered strongly delivering
growth of more than 20% through the second half to date. This improvement reflects
both the improved availability of product in all of our banners and the positive
momentum in the development of the JD fascia with 134 stores now trading as JD across
the United States and Canada. Elsewhere, our businesses in the UK and Republic of
Ireland, Europe and Asia Pacific have maintained their first half momentum, both
in stores and online, which is reassuring and demonstrates the ongoing resilience
of our proposition and the enduring strength of our multi-channel consumer engagement.

The positive performance through the second half to date means that we now expect
the headline Group profit before tax and exceptional items for the year ended 28
January 2023 will be towards the top end of current published market expectations
which range from £933 million to £985 million. The ultimate outturn will, however,
reflect trading through the remainder of January with the post-Christmas sale period
still to take place in some of our most important European markets.

Looking ahead, management are confident that consumers worldwide are more attracted
than ever to JD’s differentiated proposition with its attention-grabbing theatre
in stores, advanced digital technologies, breadth in the range of brands and availability
of key styles. Management firmly believe that the most significant opportunities
lie in the continued international multi-channel development of the Group’s sports
fashion businesses and, consequently, the Group will be accelerating its global 
investment in these businesses through 2023. The Group also remains committed to
enhancing its service to consumers both in stores and online with the programme 
of works to upgrade the Group’s operational infrastructure ongoing.

At this time, assuming current exchange rates, we estimate that the Group’s headline
profit before tax and exceptional items for the full year to 3 February 2024 will
be just over £1 billion.

The Group will shortly be commencing its year-end audit process with this being 
the last year where KPMG LLP will report on the results. The Group will make an 
announcement on the anticipated timing for releasing this year’s results in due 
course.

> **Régis Schultz, CEO of JD Sports, said**:
> “The engagement and commitment of our teams through the peak trading period has
> been phenomenal with many of our stores and websites delivering record sales and
> JD’s market-leading product and retail experience capturing the imagination of
> customers globally like never before.”
> “Our strategic focus on the international and digital expansion of our global 
> premium sports fascias is underpinned by the continued strength of these businesses.”

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