JD Sports Fashion said on Wednesday it expected profit to exceed £1 billion ($1.3 billion) for the first time this year as its offer of trainers, joggers and hoodies continues to chime with young shoppers.

The group reported profit before tax and exceptional items for the year to Jan. 28 of £991.4 million — a record result that was ahead of guidance and up from £947.2 million in 2021-22. For 2023-24 it forecast £1.03 billion — in line with current average consensus expectations.

By James Davey; Editor: William James

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Britain’s JD Sports to Buy France’s Courir in $572 Million Deal

The retailer has proposed buying France’s Groupe Courir for an enterprise value of €520 million ($572 million), in what would be the British group’s first acquisition since setting out ambitious expansion plans in February.