Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

JD Sports Lifts Profit Estimates, Sales Rise

JD Sports store.
JD Sports expects headline profit before tax and exceptional items for the year ended January 29 to be about £940 million ($1.15 billion) (Shutterstock)

Britain’s JD Sports Fashion raised its annual profit outlook for 2022 on Thursday as people spent more on athleisure and sportswear, and pointed to upbeat sales data so far this year.

The country’s largest sportswear retailer now expects headline profit before tax and exceptional items for the year ended January 29 to be about £940 million ($1.15 billion), and estimates profit for the current financial year to at least equal that.

The outlook comes after JD was fined by Britain in February for breaching an order that barred it from integrating further with Footasylum, following competition concerns. The company has delayed publishing its 2022 results.

“Like one of its yellow signs on a gloomy evening, JD has shone brightly in 1Q when others have been fading ... The shares were expecting bad news: this is a lovely surprise,” Peel Hunt analysts said in a note.

ADVERTISEMENT

The company said like-for-like sales in the 14 weeks ended May 7 climbed over 5 percent from year-ago levels.

JD said the growth in the new year had been recorded against the backdrop of a global shortfall in the supply of “certain key footwear styles”, adding that it expects that crunch to ease through the year.

Nike, a major sportswear brand, had been facing manufacturing issues which were pinching sales, but the US company in March said those problems over the past six months were now behind it.

By Pushkala Aripaka; Editors: Sherry Jacob-Phillips and Vinay Dwivedi

Learn more:

Britain Fines JD Sports, Footasylum $6.4 Million for Breaching Order

Britain fined the country’s largest sportswear retailers JD Sports and Footasylum on Monday a combined 4.7 million pounds ($6.4 million) for breaching an order that prevented both the merged firms from integrating further.

In This Article
Topics

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Retail
Analysis and advice from the front lines of the retail transformation.

Why Esprit’s Ambitious Rebrand Fell Short

The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.


How Adidas Sambas Took Over the World

The humble trainer, once the reserve of football fans, Britpop kids and the odd skateboarder, has become as ubiquitous as battered Converse All Stars in the 00s indie sleaze years.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
The Business of Beauty Global Awards - Deadline 30 April 2024
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
The Business of Beauty Global Awards - Deadline 30 April 2024