JD Sports Reports Positive Financial Update, Shares Surge

Following a January profit warning, JD Sports has announced a reassuring financial update, with shares climbing significantly as a result.

JD Sports' share price increased by mid-single digits, with a notable rise of 6.2% at the end of the trading week.
The company reported a 3.6% revenue increase in the 12 months to January, reaching £10.5 billion, and expects pre-tax profit to be in line with revised guidance of between £915 million and £935 million.
Like-for-like sales grew by 4.2% year on year, despite challenging market conditions and elevated promotional activity, particularly online.
JD Sports opened 215 new stores during the financial year, reflecting strategic progress and growth ambitions.
The company anticipates improved trading conditions in the coming months, supported by a busy sporting summer and softer comparatives with the previous year.