World Cup brings good news for JD Sports

 
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(Source: Wikimedia)

Retailer JD Sports Fashion has received a boost to its trading performance thanks to the World Cup, which has enhanced the most significant part of the company's business, the sports fascias.

JD Sports said it was pleased with the underlying performance of this segment, while outdoor business is maintaining positive progress. However, the company said precise like-for-like at this point would be misleading.

Based on performance to date the company says it expects profitability in the first half to increase in line with its expectations.

The good new follows the company's report in April, which saw profit before tax jump of 27 per cent to £77m, beating analysts' estimates of £74m. However, the results were something of a mixed story.

While its sportswear division is full-steam ahead, with profits up 20 per cent to £93.4m, in fashion it saw an operating loss before exceptions of £6.4m - from the £1.7m loss seen a year earlier.

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