JD Sports Fashion expects profit before tax and exceptional items to exceed market expectations for the year, after strong January trading.
The group, which runs the JD sports chain, as well as the Bank and Scotts fashion businesses, said that the positive sales uplift over the Christmas period had continued into January.
At a trading update on January 9, JD Sports Fashion predicted that negative sales would prevail in the early part of 2009, due to the difficult retail environment.
However, a pre-close statement from the company today said: “Following the trading update on January 9,2009, where we reported a positive sales performance for the Christmas period, management prudently anticipated that given the current general retail environment negative sales would prevail in the early part of the calendar year 2009.”
“The Board are pleased to report that the positive sales uplift reported for the Christmas trading period has in fact been sustained during January.”
Management expects profit before tax and exceptional items for the year to January 31 will marginally exceed current market expectations.
JD Sports Fashion will make its preliminary results announcement for the year ending 31 January 2009 on April 8 2009.