JD Sports PLC (LON:JD) has scored another goal as it benefits from the start of Euro’s 2016 after reporting a rise in sales.
The UK sports fashion retailer today announced its well positioned to deliver ‘excellent half year results’
Ahead of the company’s annual shareholders meeting, the trading update reflected on a string of record results for the year ended 30 January 2016.
“The Board stated that it was encouraged by the continued positive trading across our core fascias in the year to date and that it continued to believe the Group was very well positioned for profitable growth”
The high street retailer, who has exclusive rights to sell jerseys for the Welsh, Irish and England teams, has seen recent profits boost on the back end of sales in their branded trainers and sportswear departments which saw a 45% rise in profits for the year ending 30 January 2016.
The increase in sales performance has now seen company’s shares rise 86% with it’s market cap now ahead of it’s rival Sports Direct International PLC (LON:SPD) at £2,399m.
Peter Cowgill, Executive Chairman of JD Sports 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.”
At 1:26pm BST JD Sports PLC traded at 1,236p +11.96 (0.98%)
It’s counter part Sports Direct International PLC traded at 344.90p +10.90 (3.26%)
17/06/2016