A lively summer of sporting events, including the Olympic Games and the Euro 24 football tournament, has raised hopes at JD Sports Fashion of an improvement in trading conditions this year.
The sportswear retailer has reiterated its most recent full-year prediction that pre-tax profits are expected to be between £915 million and £935 million, albeit short of the £1.04 billion figure that it had been targeting previously.
The reassuring news was greeted by an immediate jump in JD Sports’ share price, which closed 15.7 per cent, or 18¼p, up at 134½p last night. Before that rise, the shares had been down by about a fifth since the start of the year.
JD Sports was forced to issue its first profit warning in nearly two decades
