JD Sports keeps £700m-£800m profit forecast after 20% earnings drop

  • JD Sports Fashion PLC retained its full-year profit forecast of £700 million to £800 million.
  • Profit before tax fell 19.7% to £282 million from £351 million.
  • Revenue declined 0.7% to £5.90 billion as like-for-like sales fell 2.8%.

JD Sports Fashion PLC maintained its full-year profit forecast of £700 million to £800 million despite subdued consumer sentiment and a difficult first half. Profit before tax and adjusted items fell 19.7% to £282 million ($376.3 million) in the six months ended Aug. 1, from £351 million a year earlier, but exceeded the £279 million analyst estimate provided by the company. Revenue declined 0.7% to £5.90 billion, while like-for-like sales fell 2.8%. A slight improvement in gross margin helped offset weaker performance in the North American business.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.