JD Sports Fashion raises full year profit outlook

In the trading update on 12 January 2022, JD Sports Fashion Plc said that total revenues for the twenty-two week period to January 1, 2022 in the group's like for like businesses were more than 10 percent ahead of the same period in 2020 with an equally positive performance across the Black Friday and Christmas period.

The company added that the positive performance continued into January and, as a result, full year results are expected to be slightly ahead of previous expectations. Headline pre-tax profit for the year is now expected to be at least 900 million pounds.

Separately, the company said in the release that the group has agreed with its auditors, KPMG, to delay the announcement of its final results for the 52 week period to January 29, 2022 to ensure that KPMG have sufficient time to complete its global audit procedures and to allow the group to report on the outcome of the divestment of Footasylum Limited with greater certainty.

Further, the company said, it will also enable the group to complete a review of its governance procedures and policies in light of the ongoing process to divide the current joint role of executive chairman and chief executive officer.