Last checked at 17 Feb 2022 15:00
17 February 2022
JD Sports Fashion Plc
Trading Update and Change in Timetable for Announcing Final Results
JD Sports Fashion Plc ('JD' or the 'Group'), the leading retailer of sports, fashion and outdoor brands, today announces an update on trading to the end of the financial year.
In the trading update on 12 January 2022, the Group announced that total revenues for the twenty-two week period to 1 January 2022 in the Group's like for like businesses were more than 10% ahead of the same period in 2020 with an equally positive performance across the Black Friday and Christmas period. This positive performance continued into January and, as a result, full year results are expected to be slightly ahead of previous expectations. Headline profit before tax and exceptional items for the year ended 29 January 2022 is now expected to be at least £900 million.
Separately, the Group has agreed with its auditors, KPMG LLP ('KPMG'), to delay the announcement of its Final Results for the 52 week period to 29 January 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, 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 which the Group expects to update on as part of its Final Results.
The Group will make a further announcement on the timetable for announcing its Final Results in due course.
Enquiries:
JD Sports Fashion Plc Tel: 0161 767 1000
Peter Cowgill, Executive Chairman
Neil Greenhalgh, Chief Financial Officer
Jennifer Iveson, Investor Relations
MHP Communications Tel: 0203 128 8193
Andrew Jaques
Peter Hewer
Charles Hirst
Catherine Chapman
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulations (EU) No. 596/2014 ("MAR") and is disclosed in accordance with the Company's obligations under Article 17 of MAR.