JD Sports Fashion sees 2023 profit at the higher end of expectations after stronger Christmas sales

JD Sports Fashion PLC said Wednesday that it expects to report fiscal 2023 adjusted pretax profit toward the top end of market expectations after it booked a strong performance during the Christmas period.

The sports-and-fashion retailer
said that for the fiscal year ending Jan. 28 it expects to report adjusted pretax profit in a range from 933 million to 985 million pounds ($1.13 billion-$1.20 billion).

Total revenue growth for the 22 weeks to Dec. 31 was more than 10%, compared with growth of 5% for the first half, it said. Performance through Christmas was particularly impressive, it said, with total revenue growth over the six-week period to Dec. 31 of more than 20%.

North America recovered strongly, delivering growth of more than 20% through the second half to date, it said.

For fiscal 2024, the company sees adjusted pretax profit of just over GBP1 billion.

Write to Kyle Morris at kyle.morris@dowjones.com

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