JD Sports on track to post sales jump

 
Helen Cahill
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Stormzy launches his Adidas collaboration at a JD Sports store (Source: Getty)

JD Sports is set to report a sales jump this week, with analysts saying that now is the "opportune moment" to buy the stock.

The athleisure retailer's share price was hit this summer when it said the timing of Eid had a negative impact on its sales. However, analysts have said the share sell-off was "unwarranted".

Read more: JD Sports given green light to take over Go Outdoors

Analysts at Shore Capital are forecasting a revenue growth of 23.9 per cent for the six months to 29 July, with like-for-like sales growth at 3.9 per cent.

"A marked decline in the share price over the last quarter is unwarranted, in our view, with a perceived increase in possible competitive pressures from the likes of Amazon as well as the likes of Asos and Sports Direct," Shore Capital said.

"We see the company as one of the strongest plays within the retail sector and see recent share price weakness as an opportunity for investors to buy stock."

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