Euro 2016 boosts sales at JD Sports
17 June 2016
- From the section Business
UK sports fashion retailer JD Sports says it has received a sales boost from the Euro 2016 football tournament in recent weeks.
As a result, the retailer said it was set to deliver “excellent” half-year results.
The trading update came ahead of the retailer’s annual shareholder meeting.
Shares in JD Sports have risen 86% in the past year, and its market value has now overtaken that of rival Sports Direct.
JD Sports executive chairman Peter Cowgill said: “We have, in recent weeks, seen a further boost to sales from the UEFA Euro 2016 tournament. Consequently, we are well positioned to deliver an excellent first half-year result.
“We face strong comparatives for the remainder of the year but our strong start will help facilitate delivery of current market expectations.”
City analysts expect JD Sports to report pre-tax profits of £161m for the 2016-17 financial year.
This post was written by FSB News