JD Sports half-time report good as World Cup gives sales a boost

JD Sports has enjoyed a boost in sales in the build-up to the World Cup, the retailer said yesterday.

However, the company remained tight-lipped on like-for-like sales figures, warning they would be “misleading” because of the different trading conditions in the lead up to the tournament.

In an interim management statement covering the 18 weeks to 7 June, trading in the most significant part of the business – its 800 sportswear stores around the world – experienced a significant lift as a result of the World Cup, with the company stating it was “pleased” with its underlying performance during the period.

The retailer and distributor of branded sports and fashionwear said it anticipates a “satisfactory” increase in profitability for the first half of the year, in line with expectations based on its trading performance to date. 

However, it noted that its fashion division was experiencing mixed performance, with some possible hopeful signs for the future, while its outdoor business has shown steady improvement from its comparatively weak performance the previous year.

Shares in JD Sports, listed on the FTSE 250 index, finished down 0.98 per cent on the day to close at 1,610p.

Related articles