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JD Sports upgrades profit forecast

JD Sports is on track to beat market expectations for full-year pre-tax profits of £200m by as much as 15%, thanks to continued strong sales for the 49 weeks to 7 January.

The sportswear retailer revealed in September that sales for the 26 weeks to 30 July were up by 10% on a like-for-like basis.

In an update this morning, executive chairman Peter Cowgill said: “While we acknowledge that it would be unreasonable to expect like-for-like sales growth to be maintained at recent levels for a fifth consecutive year, we are confident that both domestically and internationally, our unique and often exclusive sports fashion premium brand offer provides a solid foundation for future development.”

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