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Pin to quick picksJD Sports Regulatory News (JD.)

Share Price Information for JD Sports (JD.)

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AGM Update

27 Jun 2023 07:00

RNS Number : 9574D
JD Sports Fashion Plc
27 June 2023
 

27 June 2023

JD Sports Fashion Plc

AGM Update

Further Positive Trading With Guidance Reiterated

JD Sports Fashion Plc (the "Group"), the leading global Sports Fashion retailer, will make the following statement to shareholders attending its AGM today.

In the announcement of the Final Results for the 52 weeks ended 28 January 2023, released on 17 May 2023, the Group advised that it was reassured with trading in the first three months of the year with growth in organic sales at constant exchange rates of more than 15%.

The Group is pleased to advise that there was further positive trading in all regions through May with overall growth in organic sales at constant exchange rates in the month of around 8%. This moderation in the growth was in line with management expectations and reflects tougher comparatives in the prior year as the supply chain normalised and the availability of product improved.

The positive trends have continued through June in the Group's businesses in the UK, Europe and Asia Pacific although the growth from these regions is partially offset by the businesses in North America which are experiencing some softening in trade consistent with other businesses in the sector. Inventories in our businesses in North America are at normal levels and we will be no more promotional than we need to be to remain competitive.

The Board maintains its view that the headline profit before tax and adjusted items for the year end 3 February 2024 will be in line with the current average consensus expectations of £1.04 billion. The Board also expects that the phasing of the profit in the current year will reflect a normalised trading pattern with approximately 35% of profits generated in the first half.

Consistent with its 'JD First' and global growth strategy, the Group opened a net additional 32 JD stores in the first four months of the year and is on track to open more than 150 stores for the JD fascia over the course of the year in line with the targets set out in the Group's Capital Market Event in February. Elsewhere, the Group still anticipates that the proposed acquisition of the complementary Courir business in Europe, which represents the Group's first acquisitive steps in fulfilling the growth ambitions of the business in underpenetrated markets, will formally close later in the year. The mandatory consultation process with the Courir works council has now completed with good progress being made on the preparation of the mandatory anti-trust submission.

The Group will announce a date for the publication of its Interim Results for the period to 29 July 2023 in due course.

 

Enquiries:

 

JD Sports Fashion Plc Tel: 0161 767 1000

Andrew Higginson, Chair

Régis Schultz, Chief Executive Officer

Neil Greenhalgh, Chief Financial Officer

Alison Lees, Director of Investor Relations & Treasury

 

FGS Global Tel: 0207 251 3801

Rollo Head

Jenny Davey

James Thompson

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AGMDZGZVVVRGFZM
Date   Source Headline
25th Feb 20112:10 pmBUSForm 8.3 - JD Sports Fashion Plc - Amendment
25th Feb 201111:00 amBUSForm 8.3 - JD Sports Fashion Plc
24th Feb 201111:26 amBUSForm 8.3 - JD Sports Fashion Plc
22nd Feb 201112:14 pmBUSForm 8.3 - JD Sports Fashion Plc
17th Feb 20116:28 pmRNSForm 8.3 - JD SPORTS (1ST)
9th Feb 20116:30 pmRNSForm 8 (OPD) (JJB Sports PLC)
9th Feb 20115:12 pmRNSForm 8 (OPD) JD Sports Fashion plc
3rd Feb 201110:55 amPRNForm 8.3 - JD Sports Fashion plc
3rd Feb 201110:33 amBUSForm 8.3 - JD Sports Fashion Plc
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24th May 201010:56 amRNSAnnual Information Update
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20th May 20097:00 amRNSAcquisition
8th Apr 20097:00 amRNSFinal Results
4th Feb 20097:00 amRNSPre-close Trading Statement
26th Jan 20093:12 pmRNSHolding(s) in Company
26th Jan 20098:42 amRNSDirector/PDMR Shareholding
9th Jan 20097:00 amRNSChristmas Trading Statement
8th Jan 20099:09 amRNSShareholder Documentation
6th Jan 20098:17 amRNSScrip Dividend Alternative
19th Dec 20084:40 pmRNSSecond Price Monitoring Extn

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